NP/NPR Interoperability

Mandatory

Validation of the unicity of Promissory Note (NP) and Rural Promissory Note (NPR)

When an NP (Promissory Note) or NPR (Rural Promissory Note) is registered at B3, the concatenation of several fields generates automatically an internal code that will be used to verify the unicity of the asset in a centralized database, shared by all registration institutions authorized to provide registration services and for the constitution of liens and encumbrances services in Brazil.

It is in this environment that the unicity of different financial instruments traded on the market is automatically validated, preventing them from being offered as collateral in more than one credit or investment transaction, for example.

This became possible thanks to the development, by B3 and other companies trading in this market, of the so-called interoperability system through which data is exchanged among registration institutions.

Launched on May 31, 2024, the NP/ NPR interoperability was implemented in compliance with the Central Bank of Brazil Resolution 304/23, and brings greater safety to the market and to the different agents involved in NP/NPR transactions.

Project Tags:

OTC

Completed

Credit

Product benefits

Speed

The centralized database, where the validation of registration is carried out, offers autonomy and speed in unicity verification.

Reliability

The same NP or NPR is prevented from being pledged as collateral more than once.

Greater safety

To the market and to all those involved in transactions using credit securities pledged as collateral.

Learn more

The centralized database, where the validation of registration is carried out, offers autonomy and speed in unicity verification.

The unicity of NP or NPR is verified through the validation of a single key, which is automatically generated through the concatenation of the following fields when registering the financial instrument: original creditor document; debtor document; date of issue; and original contract code (single control code for the registration). Furthermore, operability system users now have access to the unicity validation status via screen and via file.

Resolution 304 was issued on March 20, 2023 by the Central Bank of Bazil and regulates the functioning of settlement systems, the exercise of registration activities and centralized deposit of financial assets, and the constitution of liens and encumbrances on registered or deposited financial assets within the Brazilian Payment System.