Regulatory Alerts2020-04-23 | Resolução CMN 4804CMN Resolution No. 4804 - Amends Resolution No. 4,687 of September 25, 2018, which establishes norms applicable to interest rate equalization operations of the Export Financing Program (Proex)
The National Monetary Council of Brazil, through Resolution No. 4804, amends the regulations governing the Export Financing Program (Proex) to establish specific procedures for the exceptional suspension of principal and interest payments on financed loans. The amendment introduces Articles 7º-A, 7º-B, and 7º-C, which mandate that borrowers submit justifications and new repayment schedules to the Proex Financial Agent, while preserving the right to redeem NTN-I bonds under strict conditions regarding Treasury costs. Furthermore, the resolution requires official federal financial institutions to retain proof of interest payments for ten years after the financing term concludes, ensuring compliance and accountability during periods of payment suspension.