CMN Resolution No. 4,988 — Establishes Emergency Credit Lines with FNE Resources and Sets Conditions for Extending Credit Operations for Non-Rural Entrepreneurs Affected by Excessive Rainfall

Resolução Nº 4.988

RESOLUTION
CMN NO. 4,988, OF MARCH 8, 2022

Establishes emergency credit lines with resources from the Constitutional Financing Fund of the Northeast (FNE) and establishes conditions for the extension of credit operations owned by non-rural entrepreneurs whose activities were harmed by excessive rainfall in municipalities within the area of operation of the Superintendency for the Development of the Northeast (Sudene).

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 March 8, 2022, based on the provisions of arts. 3, item IV, and 4, item VI, of the aforementioned Law, art. 15, item VI and § 1, of Law No. 7,827, of September 27, 1989, and art. 8-A of Law No. 10,177, of January 12, 2001,

R E S O L V E S:

Art. 1 This Resolution establishes emergency credit lines with resources from the Constitutional Financing Fund of the Northeast (FNE) and establishes conditions for the extension of non-rural credit operations owned by entrepreneurs whose activities were affected by excessive rainfall in the period from November 1, 2021, to July 31, 2022, in municipalities included in the area of operation of the Superintendency for the Development of the Northeast (Sudene) that have decreed a state of emergency or public calamity recognized by an act of the Federal Executive Power. (Amended by CMN Resolution No. 5,035, of 7/26/2022.)

Art. 2 An emergency credit line with FNE resources is established to promote the recovery or preservation of entrepreneurial activities affected by excessive rainfall in the period from November 1, 2021, to July 31, 2022, in municipalities included in the area of operation of Sudene that have decreed a state of emergency or public calamity recognized by an act of the Federal Executive Power. (Amended by CMN Resolution No. 5,035, of 7/26/2022.)

§ 1 The operations carried out under the emergency credit line referred to in the caput are intended for investment or working capital, isolated or associated with investment, for individuals or legal entities that develop non-rural productive activities.

§ 2 The following conditions apply to the operations carried out under the emergency credit line referred to in the caput:

I - maximum limits, per beneficiary, of R$100,000.00 (one hundred thousand reais) for working capital and R$200,000.00 (two hundred thousand reais) for investment;

II - fixed effective interest rates of:

a) 3.5% p.a. (three and five-tenths percent per year) for micro and small enterprises; and

b) 5% p.a. (five percent per year) for other business sizes.

III - repayment term established based on the physical-financial schedule of the proposal, as applicable, and on the borrower's repayment capacity, respecting the following limits:

a) eight years, including a grace period of up to one year, in operations intended for investment with working capital; and

b) five years, including a grace period of one year, in operations intended for working capital or isolated operating costs.

§ 3 The operations carried out under the emergency credit line referred to in the caput must have the guarantees usually used in FNE operations, freely agreed upon between the financed party and the financier.

§ 4 The provisions of the FNE that do not conflict with the provisions of this article apply to the operations carried out under the emergency credit line referred to in the caput.

§ 5 The emergency credit line referred to in the caput covers credit operations carried out until November 30, 2022. (Amended by CMN Resolution No. 5,035, of 7/26/2022.)

Art. 3 An emergency credit line with FNE resources is established to serve urban microentrepreneurs, beneficiaries of the National Program for Oriented Productive Microcredit (PNMPO), established by Law No. 13,636, of March 20, 2018, whose activities were affected by excessive rainfall in the period from November 1, 2021, to July 31, 2022, in municipalities included in the area of operation of Sudene that have decreed a state of emergency or public calamity recognized by an act of the Federal Executive Power. (Amended by CMN Resolution No. 5,035, of 7/26/2022.)

§ 1 The operations carried out under the emergency credit line referred to in the caput are intended for investment or working capital, isolated or associated with investment, covering all goods and services necessary for the viability of the proposal.

§ 2 The following conditions apply to the operations carried out under the emergency credit line referred to in the caput:

I - maximum limit, per beneficiary, of R$21,000.00 (twenty-one thousand reais);

II - fixed effective interest rate of 3.5% p.a. (three and five-tenths percent per year); and

III - repayment term established based on the physical-financial schedule of the proposal, as applicable, and on the borrower's repayment capacity, respecting the following maximum limits:

a) two years, including a grace period of up to six months, in operations intended for investment, with or without associated working capital; and

b) one year, including a grace period of up to three months, in operations intended for isolated working capital or associated with investment.

§ 3 The operations carried out under the emergency credit line referred to in the caput must have a guarantee, using the following instruments, individually or jointly:

I - guarantor, including joint and several;

II - surety; and

III - fiduciary alienation.

§ 4 The provisions of the FNE that do not conflict with the provisions of this article apply to the operations carried out under the emergency credit line referred to in the caput.

§ 5 The emergency credit line referred to in the caput covers credit operations carried out until November 30, 2022. (Amended by CMN Resolution No. 5,035, of 7/26/2022.)

Art. 4 The contracting of the credit lines referred to in arts. 2 and 3 is conditioned on proof of income loss by the borrower due to adverse weather events, attested by the lending financial institution.

Art. 5 Banco do Nordeste do Brasil S.A., in its capacity as administrator of the FNE, is authorized to extend non-rural credit operations carried out with resources from this fund to enterprises affected by excessive rainfall in the period from November 1, 2021, to July 31, 2022, in municipalities included in the area of operation of Sudene that have decreed a state of emergency or public calamity recognized by an act of the Federal Executive Power. (Amended by CMN Resolution No. 5,035, of 7/26/2022.)

§ 1 The extension referred to in the caput applies to non-rural credit operations in a compliant status as of November 30, 2021, and with due or upcoming installments in the period from December 1, 2021, to November 30, 2022. (Amended by CMN Resolution No. 5,035, of 7/26/2022.)

§ 2 The extension referred to in the caput is conditioned on proof of temporary repayment difficulty by the borrower due to adverse weather events, attested by the lending institution.

§ 3 The operation or installment extended under the caput will have its outstanding balance calculated based on the charges originally agreed upon in a normal credit situation, according to the current credit instrument, maintaining the periodicity and anniversary date, waiving the requirement for prior amortization.

§ 4 A twelve-month grace period applies to the extended non-rural credit operations referred to in the caput, with an additional increase of the same period to the final maturity.

§ 5 The operation extended in the manner of the caput will have its charges capitalized during the grace period, to be demanded proportionally to the principal installments.

Art. 6 This Resolution enters into force on the date of its publication.

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