CMN Resolution No. 4672 — Amends Resolution No. 4,622 of January 2, 2018 Regarding the Calculation Methodology for Financial Charges on Non-Agricultural Credit Operations Financed by Constitutional Funds

The Central Bank of Brazil, pursuant to Article 9 of Law No. 4,595 of December 31, 1964, makes public that the National Monetary Council, in a session held on June 26, 2018, based on Article 1-A of Law No. 10,177 of January 12, 2001,

RESOLVES:

Article 1. Resolution No. 4,622 of January 2, 2018, shall be amended as follows:

“Article 1. The financial charges applicable to the financing of non-agricultural credit operations with resources from the Constitutional Financing Funds of the North, Northeast, and Center-West (Constitutional Funds Interest Rate – TFC), as provided for in Article 1-A of Law No. 10,177 of January 12, 2001, shall be calculated monthly, according to the following formula:

(TFC) = (FAM) x [1 + (BA x CDR x FP x FL x Fixed Interest Rate of TLP)]^(DU/252) – 1, where:

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II - BA corresponds to the Default Bonus, defined in item VI of Article 1-A of Law No. 10,177 of 2001;

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VI – FL corresponds to the Location Factor, defined in item V of Article 1-A of Law No. 10,177 of 2001.” (NR)

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

Ilan Goldfajn
President of the Central Bank of Brazil