Regulatory Alerts2020-06-18 | Resolução CMN 4830Central Bank Resolution CMN No. 4830: Adjusts Rules for the Rural Activity Guarantee Program (Proagro)
The Central Bank of Brazil, via the National Monetary Council, amended the Rural Credit Manual to update Proagro regulations regarding loss verification, premium rates, and beneficiary obligations. The resolution establishes new basic additional premium rates for dryland and irrigated crops effective July 1, 2020, and mandates the use of geolocation technology for loss proof in operations starting January 1, 2021. It also requires agents to verify loss events using satellite imagery or official meteorological data and sets strict timelines for registering coverage decisions in the Sicor system.
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