CMN Resolution No. 4409 — Establishes Conditions for Refinancing Operations for the Acquisition and Leasing of Trucks and Related Equipment

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 May 28, 2015, based on Article 4, item VI, of Law No. 4,595 of 1964, and Articles 1 and 1-A of Law No. 12,096 of November 24, 2009,

RESOLVES:

Article 1. The necessary conditions for the refinancings referred to in Article 1-A of Law No. 12,096 of November 24, 2009, are established, observing the following:

I - beneficiaries:

a) individuals residing and domiciled in the country, from the road freight transport segment;

b) individual entrepreneurs, limited liability individual companies, and societies, associations, and foundations, whose gross operating revenue or annual or annualized income is up to R$2,400,000.00 (two million and four hundred thousand reais), provided they are from the road freight transport segment; or

c) leasing companies, provided the lessee fits within the terms of items "a" and "b";

II - object of the refinancing: operations destined for the acquisition and commercial leasing of trucks, chassis, tractor units, trailers, dollies, semi-trailers, including dolly types, tanks and similar, truck bodies, new or used, new tracking systems, property insurance, and credit life insurance, entered into by December 31, 2014, limited to:

a) the first twelve installments with maturity from the formalization of the refinancing operation; or

b) remaining installments with maturity from the formalization of the refinancing operation, if fewer than twelve;

III - deadline for formalizing refinancing operations: by December 31, 2015;

IV - financial charges:

a) minimum interest rate of 6% p.a. (six percent per annum); or

b) the interest rate originally observed in the contract, if above 6% p.a. (six percent per annum);

V - repayment term:

a) in the case of item "a" of item II of this article, in up to twelve monthly installments after the end of the original contract term; or

b) in the case of item "b" of item II of this article, in a number of monthly installments identical to the number of refinanced installments, ensuring a grace period of twelve months from the formalization of the refinancing operation.

§ 1. The operating agents shall be the National Bank for Economic and Social Development (BNDES) and the financial institutions accredited by it.

§ 2. The risk of the operations shall be borne by the BNDES, in contracts entered into directly by it, and by the financial institutions accredited by it, in other cases.

Article 2. The operations refinanced under the terms of this Resolution shall be integrated into the total of the financings referred to in § 1 of Article 1 of Resolution No. 4,391 of December 19, 2014, observing the classification of each subprogram.

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

Alexandre Antonio Tombini
President of the Central Bank of Brazil