CMN Resolution No. 4108 — Establishes Conditions for Credit Line with Economic Subsidy by the Union for Financing Companies in Sectors Covered by Article 2, Paragraph 5, of Law No. 11,529 of October 22, 2007

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 July 5, 2012, based on Article 4, item VI, of Law No. 4,595 of 1964, and Article 2, Paragraph 5, of Law No. 11,529 of October 22, 2007,

RESOLVES:

Article 1. The necessary conditions for the granting of loans and financing eligible for economic subsidy by the Union, under the modality of interest rate equalization, are established, observing the following:

I - beneficiaries: companies in the sectors of:

a) fruits in natura and processed;

b) ornamental stones;

c) manufacturing of textile products;

d) manufacturing of clothing and accessories;

e) preparation of leathers and manufacturing of leather goods and travel articles;

f) manufacturing of footwear;

g) manufacturing of wood products;

h) manufacturing of wooden, straw, cork, wicker, and woven articles;

i) fertilizers and agricultural pesticides;

j) manufacturing of ceramic products;

k) manufacturing of capital goods (except motor vehicles for transporting goods and passengers, vessels, aircraft, railway and metro wagons, tractors, combines, and road machinery);

l) manufacturing of electronic and communication materials;

m) manufacturing of computer equipment and peripherals;

n) manufacturing of parts and accessories for motor vehicles;

o) assistive technologies and assistive technologies for people with disabilities;

p) manufacturing of furniture;

q) manufacturing of toys and recreational games;

r) manufacturing of instruments and materials for medical and dental use and optical articles;

s) information technology services activities, including software; and

t) plastic products;

II - resources (total and source): the total of the financing to be subsidized by the Union shall observe the limit of R$6,700,000,000.00 (six billion and seven hundred million reais), granted with resources from the National Bank for Economic and Social Development (BNDES) and applied directly or by financial institutions accredited by it;

III - financial agents: BNDES and financial institutions accredited by it;

IV - credit operation modality, financial charge, and repayment term:

a) investment financing: effective interest rate of 8% p.a. (eight percent per year) and repayment term of up to 96 (ninety-six) months, including up to 36 (thirty-six) months of grace period for the principal;

b) export financing: effective interest rate of 8% p.a. (eight percent per year) and repayment term of up to 36 (thirty-six) months, including up to 18 (eighteen) months of grace period for the principal;

V - payment frequency: at the discretion of BNDES;

VI - operational risk: borne by BNDES in operations carried out directly by it, and by the financial institutions accredited by it in other cases;

VII - disbursement limit, observing the provisions of BNDES regulations: up to R$150,000,000.00 (one hundred and fifty million reais) per economic group;

VIII - contracting period: until December 31, 2013.

Article 2. This Resolution enters into force on the date of its publication.

Article 3. Resolutions Nos. 4,010 of September 14, 2011, and 4,065 of April 12, 2012, are revoked.

Altamir Lopes
Substitute President of the Central Bank of Brazil