CMN Resolution No. 4080 — Establishes a Special Credit Line for Entrepreneurs Affected by Floods or Flash Floods in the Northern Region

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 an extraordinary session held on May 22, 2012, based on Article 4, item VI, of Law No. 4,595 of 1964, and Article 8-A of Law No. 10,177 of January 12, 2001, as amended by Provisional Measure No. 565 of April 24, 2012,

R E S O L V E S:

Article 1. A special credit line is established for entrepreneurs affected by floods or flash floods in the Northern Region, to be operationalized with resources from the North Financing Constitutional Fund (FNO), observing the provisions applicable to operations of this Fund that do not conflict with the following special conditions:

I - objectives: to promote the recovery or preservation of the activities of entrepreneurs affected by floods or flash floods in the Northern Region, in municipalities with a declared emergency or state of public calamity due to the aforementioned climatic event, recognized by the Ministry of National Integration from December 1, 2011;

II - beneficiaries: individual entrepreneurs, industrial, agroindustrial, commercial, and service companies, production cooperatives, and associations;

III - purposes:

a) investments, preferably those that can contribute to the sustainable coexistence of the entrepreneur with flood periods;

b) working capital, isolated or associated with investment;

IV - financeable items: goods and services necessary for the viability of the project or simplified proposal;

V - financing limit: up to R$100,000.00 (one hundred thousand reais) per beneficiary;

VI - financial charges: effective interest rate of 3.5% p.a. (three and five-tenths percent per year);

VII - repayment: established based on the physical-financial schedule of the project or simplified proposal, as applicable, and on the beneficiary's payment capacity, respecting a term of up to 5 (five) years, including up to 1 (one) year of grace;

VIII - contracting period: until December 30, 2012;

IX - guarantees: at the free discretion between the financed party and the financier.

Article 2. The contracting of the credit line provided for in this Resolution for the isolated acquisition of animals is prohibited.

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

Alexandre Antonio Tombini
President of the Central Bank of Brazil