CMN Resolution No. 4754 — Amends Resolution No. 4,676, of July 31, 2018, which provides for the general conditions and criteria for contracting real estate financing by financial institutions and other institutions authorized to operate by the Central Bank of Brazil

The Central Bank of Brazil, in the form of art. 9 of Law No. 4,595, of December 31, 1964, makes public that the National Monetary Council, in a session held on September 26, 2019, based on arts. 4, items VI and VIII, of the aforementioned Law, 41 of Law No. 9,514, of November 20, 1997, and 95 of Law No. 13,097, of January 19, 2015, R E S O L V E D :
Art. 1 Resolution No. 4,676, of July 31, 2018, shall come into force with the following amendments:
“Art. 11. .....................................................
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§ 4 For the purposes of calculating the value of the property referred to in the caput, item I, subparagraph “b”, and art. 13, item I, the proposing institution may, alternatively, use its own pricing model or that of third parties, provided that:
I - the model is based on consistent, documented, and verifiable criteria, assumptions, and procedures; II - the model and the institution's internal risk management and collateral monitoring systems are capable of demonstrating that the analysis of the operation's risk justifies any waiver of an inspection visit to the property; III - the professionals responsible for the models do not have any link with the institution's credit area or with other areas that may imply a conflict of interest or constitute a deficiency in the segregation of duties; and IV - the model allows for the generation of an individualized report on the property's pricing, including the examination of relevant aspects and risks inherent to the estimation of the property's value.” (NR) Art. 2 This Resolution enters into force on the date of its publication. Roberto de Oliveira Campos Neto President of the Central Bank of Brazil