Brazilian National Monetary Council ("CMN") Resolution No. 4,893, effective as of 26 February 2021 ("Resolution 4,893"), and Brazilian Central Bank ("BCB") Resolution No. 85, effective as of 8 April 2021 ("Resolution 85"), will apply to cloud outsourcing.

According to Resolution 4,893 and Resolution 85, cloud outsourcing services include the availability (on demand and virtually) to the contracting financial or payment institution of at least one of the following services: (i) data processing, data storage, network infrastructure and other computing resources that enable the contracting party to deploy or execute software, which may include operating systems and applications developed by the contracting party or acquired by it; (ii) deployment or execution of applications developed by the contracting party, or acquired by it, using the cloud service provider's computing resources; or (iii) implementation via the internet of applications implemented or developed by the cloud service provider, using the cloud service provider's own computing resources. Please refer to Q&A No. 7 on when the Brazilian General Data Protection Law (Law 13,709/2018 — "LGPD") will apply in cases of cloud outsourcing.