CMN Resolution No. 4,912 — Adjusts general rules for rural credit effective July 1, 2021

The current text of the MCR can be found at the following electronic address: www3.bcb.gov.br/mcr.

CMN RESOLUTION NO. 4,912, OF JUNE 22, 2021

Adjusts general rules for rural credit to be applied from July 1, 2021.

The Central Bank of Brazil, in accordance with Art. 9 of Law No. 4,595, of December 31, 1964, makes public that the National Monetary Council, in an extraordinary session held on June 21, 2021, considering the provisions of Art. 4, item VI, of Law No. 4,595, of 1964, Arts. 4 and 14 of Law No. 4,829, of November 5, 1965, Arts. 48 and 49 of Law No. 8,171, of January 17, 1991, and Art. 6 of Law No. 10,186, of February 12, 2001,

R E S O L V E S:

Art. 1 The Section 5 (Utilization) of Chapter 2 (Basic Conditions) of the Rural Credit Manual (MCR) shall enter into force with the following alteration:

“13 - The release of installments referring to fertilizers, correctives, agricultural pesticides, seedlings, and supervised or certified seeds, acquired up to 180 (one hundred and eighty) days before the formalization of the credit and intended for the financed crop, is admitted, provided that the purchase of the products, proven by invoice, is compatible with the financed enterprise.” (NR)

Art. 2 Section 2 (Working Capital Credits) of Chapter 3 (Operations) of the MCR shall enter into force with the following alterations:

“3 - ..................................................................................................................

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c) agricultural and livestock:

I - expenses for the acquisition of inputs for the restoration and recovery of legal reserve areas and permanent preservation areas, including pest and invasive species control, maintenance and conduct of natural regeneration of native species, and fire prevention;

II - acquisition of bioinputs defined within the scope of the National Bioinputs Program, including inoculants for biological nitrogen fixation.” (NR)

Art. 3 Section 1 (Pronamp) of Chapter 8 (National Program of Support for Medium Rural Producers – Pronamp) of the MCR shall enter into force with the following alterations:

“1 - ................................................................................................................…

a) beneficiaries: rural producers who are rural owners, possessors, tenants, or partners with gross annual income up to R$2,400,000.00 (two million and four hundred thousand reais), considering in this limit the sum of 100% (one hundred percent) of the Gross Production Value (GPV), 100% (one hundred percent) of the value of revenue received from an integrating entity and other revenues from activities developed on and off the establishment, and 100% (one hundred percent) of other non-agricultural revenues;

...............................................................................................................” (NR)

Art. 4 Section 1 (General Provisions) of Chapter 9 (Coffee Economy Defense Fund – Funcafé) shall enter into force with the following alterations:

“1 - ..................................................................................................................

a) the remuneration of the financial institution shall consist of the difference between the effective interest rate applied to the operation, according to the Coffee Economy Defense Fund (Funcafé) Section of the Financial Charges and Credit Limits Chapter, and the remuneration of Funcafé, due on the due dates of the financing installments or, in the case of early payment by the borrower, up to the respective amortization or liquidation dates;

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f) .....................................................................................................................

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II - once released to the final beneficiaries of the credit lines: at the rate of 4% p.a. (four percent per year) applied to the nominal value of the operation;

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Art. 5 Section 3 (Program for Incentive to Irrigation and Protected Environment Production – Moderinfra) of Chapter 11 (Programs with BNDES Resources) of the MCR shall be renamed “Program for Financing Irrigated Agriculture and Protected Cultivation – Proirriga” (NR)

Art. 6 Section 3 (Program for Financing Irrigated Agriculture and Protected Cultivation – Proirriga) of Chapter 11 of the MCR shall enter into force with the following alteration:

“1 - The Program for Financing Irrigated Agriculture and Protected Cultivation (Proirriga) is subject to the following specific conditions:

............................................................................................................” (NR)

Art. 7 Section 4 (Program for Modernization of Agriculture and Conservation of Natural Resources – Moderagro) of Chapter 11 of the MCR shall enter into force with the following alterations:

“1 - ..................................................................................................................

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d) associated working capital financing for the investment project is admitted when related to maintenance expenses until the first harvest or production, or when related to the acquisition of dams and bovine and bubaline breeders for dairy cattle farming, limited to 35% (thirty-five percent) of the investment value;

e) reimbursement:

I - up to 10 (ten) years, including up to 3 (three) years of grace period, respecting the provision of item II;

II - up to 5 (five) years when it concerns financing for the acquisition of dams and bovine or bubaline breeders for dairy cattle farming, in the form of item “d”;

...............................................................................................................” (NR)

“2 - Financing for the construction, installation, and modernization of improvements is prohibited when intended for the segments of aquaculture, poultry farming, crustacean farming, swine farming, sheep and goat farming, fish farming, and dairy cattle.” (NR)

Art. 8 Section 7 (Program for Reduction of Greenhouse Gas Emissions in Agriculture – ABC Program) of Chapter 11 of the MCR shall enter into force with the following alterations:

“1 - ..................................................................................................................

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c) ....................................................................................................................

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XI - adoption of conservationist practices for the use, management, and protection of natural resources, including correction of soil acidity and fertility (ABC Soil Management);

XII - construction of facilities for the implementation or expansion of bioinputs and biofertilizers production units on the rural property, for own use;

d) .....................................................................................................................

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XVIII - implementation, improvement, and maintenance of açaí, cocoa, olive, and walnut plantations;

XIX - implementation, improvement, and maintenance of systems for renewable energy generation, for own consumption;

e) .....................................................................................................................

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II - up to 40% (forty percent) of the financed value, when the project includes the acquisition of bovine, bubaline, ovine, and caprine animals, for reproduction, rearing, and finishing, and semen of these species;

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Art. 9 Section 8 (Program for Incentive to Technological Innovation in Agricultural and Livestock Production – Inovagro) of Chapter 11 of the MCR shall enter into force with the following alterations:

“1 - ..................................................................................................................

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c) ..................................................................................................................

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III - automation, adaptation, and construction of facilities for the segments of aquaculture, poultry farming, crustacean farming, swine farming, sheep and goat farming, fish farming, beef cattle farming, and dairy cattle farming, including the integrated or isolated acquisition of machinery and equipment for this purpose;

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Art. 10. Section 9 (Program for Construction and Expansion of Warehouses - PCA) of Chapter 11 of the MCR shall enter into force with the following alteration:

“1 - ..................................................................................................................

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e) reimbursement period: up to 12 (twelve) years, including up to 3 (three) years of grace period.” (NR)

Art. 11. The following are revoked:

I - item III of item “a” of item 1 of Section 4 of Chapter 11 of the MCR; and

II - item X of item “c” of item 1 of Section 7 of Chapter 11 of the MCR.

Art. 12. This Resolution enters into force on July 1, 2021.

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