CMN Resolution No. 4347 — Amends Resolution No. 4,298 of December 30, 2013, Regarding Rebates for Liquidation and Renegotiation of Credit Operations for Family Farming Groups A and A/C

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 June 30, 2014, and considering the provisions of Articles 4, item VI, of Law No. 4,595 of 1964, Articles 4 and 14 of Law No. 4,829 of November 5, 1965, Article 5-A of Law No. 8,427 of May 27, 1992, Article 1 of Law No. 10,177 of January 12, 2001, Article 5 of Law No. 10,186 of February 12, 2001, Article 21 of Law No. 11,775 of September 17, 2008, and Article 1, sole paragraph, and Article 2, § 2, of Decree No. 8,177 of December 27, 2013,

RESOLVES:

Article 1. Item II of Article 1 of Resolution No. 4,298 of December 30, 2013, shall be effective with the following wording:

“II - liquidation by June 30, 2015: an 80% (eighty percent) rebate on the updated outstanding balance, in substitution for all contractual compliance and liquidation bonuses.” (NR)

Article 2. Items “a” and “b” of item I of Article 2 of Resolution No. 4,298 of 2013 shall be effective with the following wordings:

“a) by December 30, 2014, for the borrower to formally express to the financial institution interest in renegotiating the operation;

b) by June 30, 2015, for the formalization of the renegotiation;” (NR)

Article 3. Items I and II of Article 5 of Resolution No. 4,298 of 2013 shall be effective with the following wordings:

“I - by December 30, 2014, for the borrower to formally express to the financial institution interest in individualization;

II - by June 30, 2015, for the formalization of the contracts;” (NR)

Article 4. This Resolution enters into force on the date of its publication.

Alexandre Antonio Tombini
President of the Central Bank of Brazil