CMN Resolution No. 4768 Amending Resolution No. 4,622 of January 2, 2018 Regarding Financial Charge Methodology for Non-Rural Credit Operations Funded by Constitutional Funds

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 December 19, 2019, based on the provisions of § 4 of Article 1-A of Law No. 10,177 of January 12, 2001,

R E S O L V E D:

Article 1. Resolution No. 4,622 of January 2, 2018, shall enter into force with the following amendments:

“Article 1. ......................................................

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IV - FP corresponds to the Program Factor, calculated according to the type of operation or the purpose of the project, as defined below:

a) factor 0.7 (seven tenths), for investment operations for individuals with an annual gross income of up to R$50,000.00 (fifty thousand reais), according to the Individual Income Tax Declaration (IRPF), and for entrepreneurs classified as micro-enterprises or small-sized enterprises, according to the criteria established in Article 3 of Complementary Law No. 123 of December 14, 2006;

b) factor 1 (one whole), for investment operations for individuals with an annual gross income above R$50,000.00 (fifty thousand reais) up to R$100,000.00 (one hundred thousand reais), according to the IRPF, and for entrepreneurs not classified as micro-enterprises or small-sized enterprises, according to the criteria established in Article 3 of Complementary Law No. 123 of 2006, with annual gross revenue of up to R$90,000,000.00 (ninety million reais);

c) factor 1.5 (one whole and five tenths), for investment operations for individuals with an annual gross income above R$100,000.00 (one hundred thousand reais) up to R$150,000.00 (one hundred fifty thousand reais), as reported in the IRPF, and for entrepreneurs with annual gross revenue above R$90,000,000.00 (ninety million reais);

d) factor 1.2 (one whole and two tenths), for working capital operations for entrepreneurs classified as micro-enterprises or small-sized enterprises, according to the criteria established in Article 3 of Complementary Law No. 123 of 2006;

e) factor 1.5 (one whole and five tenths), for working capital operations for entrepreneurs not classified as micro-enterprises or small-sized enterprises, according to the criteria established in Article 3 of Complementary Law No. 123 of 2006, with annual gross revenue of up to R$90,000,000.00 (ninety million reais);

f) factor 2 (two wholes), for investment operations for individuals with an annual gross income above R$150,000.00 (one hundred fifty thousand reais), as reported in the IRPF, and for working capital operations for entrepreneurs with annual gross revenue above R$90,000,000.00 (ninety million reais);

g) factor 0.8 (eight tenths), for financing of investment projects in infrastructure for water and sewage and logistics;

h) factor 0.5 (five tenths), for financing of investment projects in innovation up to R$200,000.00 (two hundred thousand reais); and

i) factor 0.9 (nine tenths), for financing of investment projects in innovation above R$200,000.00 (two hundred thousand reais);

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VI - FL corresponds to the Location Factor, as defined below:

a) factor 0.9 (nine tenths), for financing of enterprises located in municipalities considered priority by the respective Deliberative Councils of the Regional Development Superintendencies, respecting the priority areas of the National Regional Development Policy; and

b) factor 1.1 (one whole and one tenth), in all other cases.” (NR)

“Article 1-A. The maximum volume of resources from the Constitutional Financing Funds of the North, Northeast, and Central-West, allocated to the set of innovation credit lines referred to in item “h” of item IV of Article 1-A of Law No. 10,177 of 2001, shall be R$100,000,000.00 (one hundred million reais) per year, allocated among the Funds according to the proportion used for the distribution of resources referred to in the sole paragraph of Article 6 of Law No. 7,827 of September 27, 1989.” (NR)

“Article 1-B. The Program Factors and the Location Factor defined in items IV and VI of Article 1 and the limit referred to in Article 1-A of this Resolution shall remain in effect until December 31, 2023.” (NR)

Article 2. This Resolution enters into force on January 1, 2020.

Roberto de Oliveira Campos Neto
President of the Central Bank of Brazil