RegAlert2016-08-22 | Carta Circular 3778Added
Circular Letter No. 3778 — Establishes Document 6 of the Rural Credit Manual (MCR)
Circular Letter No. 3778 establishes Document 6 of the Rural Credit Manual (MCR) to monitor and verify compliance with rural credit application directives for mandatory resources, rural savings, and Agricultural Credit Letters (LCA). Financial institutions must submit monthly reports via the Rural Credit Obligations System (Sisex) by the 20th of the following month, with specific deadlines for the initial July and August 2016 positions. Institutions with a View Subject to Collection (VSR) average of R$70 million or less are exempt from mandatory resource requirements, and those with LCA direction obligations of R$500,000 or less are exempt from LCA directives, both also exempting them from monthly reporting. Non-compliance results in either a mandatory deposit or a fine of 40% for mandatory resources and 20% for rural savings and LCA.
BCB published 16 documents in the last 30 days — get each new one by email the day it lands.
Circular Letter No. 3778
The Head of the Department of Regulation, Supervision and Control of Rural Credit and Proagro Operations (Derop), using the powers conferred by art. 99, item II, letter “a”, of the Internal Regulations of the Central Bank of Brazil, annexed to Ordinance No. 84,287, of February 27, 2015, and art. 4 of Circular Letter No. 3,801, of July 7, 2016, and in view of the provisions of item 13 of Section 6-1 of the Rural Credit Manual (MCR), and of Resolution No. 4,511, of July 28, 2016,
Read the rest free, and get an email when BCB publishes again
Lineage: In force
Source: Banco Central do Brasil — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
More like this from BCB
BCB published 16 documents in the last 30 days. We email you each new one the day it's published.