Regulatory Alerts2020-04-28 | Circular 4009Circular No. 4009 — Establishes Temporary and Exceptional Measures for the Formation and Operation of Consortium Groups Due to the Covid-19 Pandemic and Amends Circular No. 3,432 of February 3, 2009
The Central Bank of Brazil issued Circular No. 4009 to grant consortium administrators temporary and exceptional flexibility in response to the Covid-19 pandemic. The regulation permits consortium groups to operate with differentiated credit values, extends formation deadlines based on specific start dates, and allows for cash payments to selected members who have not yet used their credits. These measures aim to mitigate financial impacts while ensuring the continued functioning of consortium operations under modified contractual terms.
Share