BCB Normative Instruction No. 332 — Adjusts MCR provision to establish period when Sicor will not receive Proagro information records

The current text of the MCR is available at the following website: www3.bcb.gov.br/mcr.

BCB NORMATIVE INSTRUCTION NO. 332, OF DECEMBER 1, 2022

Adjusts provision of the MCR - Document 1 of the Rural Credit Manual (MCR) to establish period in which the Rural Credit and Proagro Operations System (Sicor) will not receive records of information related to the Agricultural Activity Guarantee Program.

The Head of the Department of Regulation, Supervision and Control of Rural Credit and Proagro Operations (Derop), using the powers conferred by art. 23, item I, letter “a”, of the Internal Regulations of the Central Bank of Brazil, annexed to Ordinance No. 84,287, of February 27, 2015, and taking into account the provisions of item 4 of Section 6 (Accounting and Control) of
Chapter 3 (Operations) and of letter “m” of item 1 of Section 1 (General
Provisions) of Chapter 12 of the Rural Credit Manual (MCR),

R E S O L V E :

Art. 1º Item 17 of the MCR - Document 1 (Requirements and Instructions for Filling out the Rural Credit and Proagro Operations System - Sicor) of the Rural Credit Manual (MCR) shall enter into force with the following alteration:

“17

• ................................................................................................................

.........................................................................................................................

c) between December 26 and 31 of each civil year, the Sicor will not receive records of operation classification in Proagro, of Proagro Loss Communications (COP) nor inclusion of Proagro Loss Verification Reports (RCP) and Proagro Judgment Summaries;

d) when it concerns credit formalized after the end date of planting, the counting of the deadline referred to in MCR 12-2-16-“i”-II is not interrupted nor suspended in the period provided for in letter “c”. ” (NR)

Sole Paragraph. The MCR - Document 1 of the MCR is made available on the website of the Central Bank of Brazil, on the MCR consultation page, available at the electronic address www3.bcb.gov.br/mcr.

Art.
2º This BCB Normative Instruction enters into force on the date of its publication.

Claudio Filgueiras
Pacheco Moreira

NOTE

The Rural Credit and Proagro Operations System (Sicor), created by the Central Bank of Brazil (BCB) to administer rural credit, is the platform through which the registration of rural credit operations takes place. The Sicor requires that financial agents transfer resources to beneficiaries of rural credit only after the completion of the registration, which is processed in real time. In the processing of operation information, cross-referencing of databases is performed and consultations to other systems external to the BCB, which allow validation of records and confirmation of the veracity of information, avoiding that operations in non-compliance with regulations are formalized as rural credit.

2. The present BCB Normative Instruction (BCB NI) aims to alter item 17 of MCR - Document 1 of the Rural Credit Manual (MCR), establishing that, between December 26 and 31 of each civil year,
   operation classification in the Agricultural Activity Guarantee Program (Proagro) is not allowed, the registration of Proagro Loss Communications (COP) and the inclusion of Proagro Loss Verification Reports (RCP) and Proagro Judgment Summaries, since it is necessary to temporarily interrupt for a few days, prior to the end of each civil year, the operation classification and other Proagro actions, ceasing financial movements, to allow data to be properly consolidated in the program's financial balance sheet.

3. It is worth highlighting that, by virtue of art. 24 of Decree No. 10,411, of June 30, 2020, the issuance of normative acts by bodies and entities of the direct federal public administration,
   autarchic and foundation, from October 14, 2021, must be preceded by Regulatory Impact Analysis (RIA). However, in its article 4º, the aforementioned decree establishes the hypotheses for exemption from carrying out RIA. The present BCB NI falls under the hypothesis provided for in item III, normative act considered low impact, given that it does not cause an increase in cost for economic agents, because, for the current agricultural year, the measure will be published with advance notice that will allow financial institutions and borrowers to anticipate contracts that would be made in the last week of the year, if necessary. For the next agricultural years, financial institutions and borrowers will have even better conditions to adapt to the Sicor closing period, as it is a rule with permanent character. Thus, based on item III of art. 4º of Decree No. 10,411, of 2020, it is understood that the issuance of the present BCB NI exempts the carrying out of RIA.

Claudio
Filgueiras Pacheco Moreira

Head of Derop