CMN Resolution No. 4833 - Increases Credit Limits for Price Guarantee Financing for Sugarcane and Fishery Producers and Adjusts Deadlines for Rural Producers

The Central Bank of Brazil, in accordance with Article 9 of Law No. 4,595 of December 31, 1964, makes public that the National Monetary Council, in a session held on June 25, 2020, considering the provisions of Article 4, item VI, of Law No. 4,595 of 1964, Articles 4 and 14 of Law No. 4,829 of November 5, 1965, Article 49 of Law No. 8,171 of January 17, 1991, and Article 5 of Law No. 10,186 of February 12, 2001,

R E S O L V E S:

Art. 1 Section 6 (Transitional Norms) of Chapter 4 (Special Purposes) of the Rural Credit Manual (MCR), as amended by Article 6 of Resolution No. 4,824 of June 18, 2020, shall enter into force with the following alterations:

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a) credit limit: up to R$65,000,000.00 (sixty-five million reais) per beneficiary;

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a) credit limit: up to R$65,000,000.00 (sixty-five million reais) per beneficiary;

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Art. 2 Section 2 (Mandatory Resources) of Chapter 6 (Resources) of the MCR shall enter into force with the following alteration:

“17-A - The use of Mandatory Resources, as provided in this section, for the contracting of investment operations and Price Guarantee Financing for Producers (FGPP), as provided in MCR 4-1, is prohibited, except as provided in a specific norm of this manual.” (NR)

Art. 3 Section 2 (Transitional Norms) of Chapter 8 (National Program for Support to Medium-Sized Rural Producers - Pronamp) of the MCR shall enter into force with the following alterations:

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e) contracting deadline: until 10/30/2020;

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“5 - The granting of credit to rural producers classified under Pronamp who suffered losses due to drought or dry spells in municipalities with a declaration of emergency situation or state of public calamity in the period from 1/1/2020 to 6/30/2020, recognized by the State Government, is authorized, observing the general rural credit norms applicable to Pronamp and the following special conditions:

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e) contracting deadline: until 10/30/2020;

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Art. 4 Section 19 (Transitional Credit Lines) of Chapter 10 (National Program for Strengthening Family Agriculture - Pronaf) of the MCR shall enter into force with the following alterations:

“11 - The granting of special credit to family farmers classified under Pronaf who suffered losses due to drought or dry spells in municipalities with a declaration of emergency situation or state of public calamity in the period from 1/1/2020 to 6/30/2020, recognized by the State Government, is authorized, observing the general rural credit norms applicable to Pronaf and the following special conditions:

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e) contracting deadline: until 10/30/2020;

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e) contracting deadline: until 10/30/2020;

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Art. 5 Section 2 (Program for Capitalization of Agricultural Cooperatives - Procap-Agro) of Chapter 13 (Programs with BNDES Resources) of the MCR shall enter into force with the following alteration:

“10 - Exceptionally, in the 2020/2021 agricultural year, the limit set forth in item 4 does not apply.” (NR)

Art. 6 Section 23 (Operations that suffered losses due to drought or dry spells in municipalities with a declaration of emergency situation or state of public calamity) of Chapter 18 (Renegotiation of Debts Originating from Rural Credit Operations) of the MCR shall enter into force with the following alteration:

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f) formalization: until 10/30/2020;

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Art. 7 The items “a” and “b” of item 17-A of Section 2 of Chapter 6 of the MCR are revoked.

Art. 8 This Resolution enters into force on July 1, 2020.

Roberto de Oliveira Campos Neto President of the Central Bank of Brazil