CMN Resolution No. 4,917 — Allows Financial Institutions to Fulfill Mandatory Resource (MCR 6-2) Rural Credit Requirements via Investment Operations Contracted from July 1, 2021 to June 30, 2022

Resolution No. 4,917

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

CMN RESOLUTION NO. 4,917, OF JUNE 22, 2021

Allows the fulfillment of the rural credit exigibility requirement of the Mandatory Resources (MCR 6-2), by financial institutions, through investment operations, contracted from July 1, 2021 to June 30, 2022, under the same conditions in force for beneficiaries of the Program for the Reduction of Greenhouse Gas Emissions in Agriculture (ABC Program), governed by MCR 11-7, and the Program for Construction and Expansion of Warehouses (PCA), governed by MCR 11-9.

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 arts. 4, item VI, of Law No. 4,595, of 1964, 4, 14 and 21 of Law No. 4,829, of November 5, 1965,

R E S O L V E D:

Art. 1 The Section 8
(Transitional Norms) of Chapter 6 (Resources) of the Rural Credit Manual (MCR), contained in the annex to CMN Resolution No. 4,901, of March 25, 2021, shall enter into force with the following alterations:

“7

• Exceptionally in the 2021/2022 agricultural year, it is admitted that financial
  institutions contract rural investment credit operations with resources from the exigibility of demand resources, as governed by MCR 6-2, under the same conditions in force for:

a) the Program for the Reduction of Greenhouse Gas Emissions in Agriculture (ABC Program), governed by MCR 11-7; and

b) the Program for Construction and Expansion of Warehouses (PCA), governed by MCR 11-9.” (NR)

“8

• The average balances of the operations referred to in item “a” of item 7:

a) shall not exceed 3.6% (three and six-tenths percent) of the total exigibility calculated in accordance with MCR 6-2;

b) can be computed for the fulfillment of the exigibility referred to in MCR 6-2 until their liquidation; and

c) cannot be computed for the fulfillment of the Pronamp and Pronaf sub-exigibilities, governed by MCR 6-2-8 and 6-2-10, respectively.” (NR)

“9

• The average balances of the operations referred to in item “b” of item 7:

a) shall not exceed 2.4% (two and four-tenths percent) of the total exigibility calculated in accordance with MCR 6-2;

b) can be computed for the fulfillment of the exigibility referred to in MCR 6-2 until their liquidation; and

c) cannot be computed for the fulfillment of the Pronamp and Pronaf sub-exigibilities, governed by MCR 6-2-8 and 6-2-10, respectively.” (NR)

Art. 2 This Resolution enters into force on July 1, 2021.

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