CMN Resolution No. 4074 on Credit Concession for Indirect Export Operations under Law No. 9,529 of 1997

Authorized foreign exchange market banks may utilize external commercial credit lines to finance indirect export operations under Law No. 9,529 of 1997, provided the final exporting company or exporting commercial company declares that its purchases will be used in accordance with that Law. The Central Bank of Brazil is mandated to issue necessary instructions to comply with this Resolution, which enters into force on the date of its publication and revokes Resolution No. 2,441 of November 12, 1997.

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Raw text Annotated text

The Central Bank of Brazil, in accordance with Article 9 of Law No. 4,595 of December 31, 1964, makes public that the National Monetary Council, in a session held on April 26, 2012, based on Article 4, items V, VI, and XXXI, of the aforementioned Law and considering the provisions of Law No. 9,529 of December 10, 1997, as amended by Provisional Measure No. 564 of April 3, 2012,

R E S O L V E S:

Article 1. Banks authorized to operate in the foreign exchange market may use external commercial credit lines to grant credit intended to finance indirect export operations as described in Article 1 of Law No. 9,529 of December 10, 1997, provided that the final exporting company or the exporting commercial company declares that its purchases will be used in accordance with the aforementioned Law.

Article 2. The Central Bank of Brazil will issue the necessary instructions to comply with this Resolution.

Article 3. This Resolution enters into force on the date of its publication.

Article 4. Resolution No. 2,441 of November 12, 1997, is hereby revoked.

Alexandre Antonio Tombini
President of the Central Bank of Brazil

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Lineage: In force

amendssupersedesissued underrefers toproposed or not in RegAlertarrows run from the older text to the one that changes it

Timeline

This document supersedes: Resolution CMN No. 2441 — Credit Concessions to Manufacturers of Inputs for Export Goods

What changed in the obligations

Against Resolution CMN No. 2441 — Credit Concessions to Manufacturers of Inputs for Export Goods (1997-11-12)

4 not carried over

1 obligation is the same in both texts.

Not carried over (4)

Dispenses with the granting of credit to manufacturers of inputs that integrate the productive, assembly, and packaging processes of goods destined for export. in the old text
Paragraph 1. The promissory notes may be issued in United States dollars or in Brazilian reais, according to the modality of the transaction agreed upon by the parties, in accordance with the regulations issued by the Central Bank of Brazil. in the old text
Paragraph 2. The following promissory notes are eligible for the purposes of the "caput" of this article: a) containing the acceptance of the exporting company; in the old text
Article 2. Allow authorized banks to operate in foreign exchange to accept, until December 12, 1997, promissory notes issued from September 12, 1997, and not yet due, representing inputs sold and delivered to final exporting companies, with a view to classification under the provisions of Provisional Measure No. 1,598 of November 11, 1997. in the old text

“Not carried over” means the sentence has no counterpart in this text; the rule can still be in force in another text.

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