Brazil Central Bank Tightens Rules Amid Fintech Crackdown (1)

Brazil’s central bank unveiled a new set of rules for financial institutions on Monday, the latest step toward strengthening a system that’s faced a slew of probes into its fintech firms in recent months.

Starting from 2028, the minimum capital that Brazilian financial companies will be required to hold will be calculated primarily according to their business activities, rather than type of institution, according to a statement. The central bank will also require companies which use the word “bank” in their brands to hold some additional capital on top of that, it said.

The new rules — which will ...