BCB Normative Instruction No. 504 — Establishes procedures for requesting extensions of deadlines related to the Agricultural Activity Program (Proagro) and other deadlines in the Rural Credit Manual for changes to registered operations in the Sicor system

Resolution No. 222

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

BCB NORMATIVE INSTRUCTION NO. 504, OF AUGUST 12, 2024

Establishes procedures for requesting extensions of deadlines related to the Agricultural Activity Program (Proagro), as governed by MCR 12-1-1-“k”, and other deadlines provided for in the Rural Credit Manual for changes to the registration of operations registered in the Rural Credit and Proagro Operations System (Sicor).

The Head of the Department of Regulation, Supervision and Control of Rural Credit and Proagro Operations (Derop), in exercise of the powers conferred by Article 23, item I, letter “a”, of the Internal Regulations of the Central Bank of Brazil, annexed to BCB Resolution No. 340, of September 21, 2023, and based on the provisions of letters “k” and “m” of item 1 of Section 1 of Chapter 12 and item 4 of Section 6 of Chapter 3 of the Rural Credit Manual (MCR),

RESOLVES:

Article 1. In the cases provided for in MCR 12-1-1”k” and in any other situations where it is necessary to alter the records of rural credit operations registered in the Rural Credit and Proagro Operations System (Sicor) after the deadlines provided for in the Rural Credit Manual, financial institutions must submit their respective requests to the Central Bank of Brazil (BCB) with the appropriate justifications for altering the records, through the Digital Protocol available at the electronic address www.bcb.gov.br/acessoinformacao/protocolodigital.

Article 2. The document to be addressed to the BCB must be signed by the director responsible for the Rural Credit area and be in PDF/A format.

Sole Paragraph. The digital signature of the director responsible for the Rural Credit area must be presented using the PAdES standard, with a digital certificate issued by a Certificate Authority of the ICP-Brasil.

Article 3. Requests that do not relate to the situations established in Article 1 must be sent, from the corporate mailbox registered in Sicor, to the institutional e-mails sicor.derop@bcb.gov.br or proagro@bcb.gov.br of the Department of Regulation, Supervision and Control of Rural Credit and Proagro Operations (Derop) of the BCB.

Article 4. If the request referred to in Article 1 is approved by the BCB, the financial institution:

I - is not exempt from complying with the regulations in force at the time of the operation's contracting; and

II - remains subject to supervision actions by the BCB regarding changes to the operation's registration, including verification that the changes made were restricted to the scope of the request.

Article 5. Circular Letter No. 3,975, of September 16, 2019, is hereby revoked.

Article 6. This BCB Normative Instruction enters into force on the date of its publication.

CLAUDIO
FILGUEIRAS PACHECO MOREIRA

NOTE

This BCB Normative Instruction aims to update and consolidate the text of Circular Letter No. 3,975 of September 16, 2019, considering: (i) the consolidation of the Rural Credit Manual carried out in 2021, (ii) the need to make the understanding of certain points clearer, and (iii) the overcoming of the time limit established in Circular Letter No. 3,975 of 2019.

2. It is worth highlighting that, by virtue of Article 24 of Decree No. 10,411, of June 30, 2020, the issuance of normative acts by bodies and entities of the direct, autarchic, and foundation federal public administration, from October 14, 2021, must be preceded by a Regulatory Impact Analysis (AIR). However, in its Article 4, the aforementioned decree establishes the hypotheses for dispensing with the realization of AIR. This BCB IN falls under the hypothesis provided for in item IV, a normative act that aims to update or revoke norms considered obsolete, without alteration of merit. Thus, based on item IV of Article 4 of Decree No. 10,411, of 2020, it is understood that the issuance of this BCB IN is exempt from the realization of AIR.

CLAUDIO FILGUEIRAS PACHECO
MOREIRA
Head of Derop