CMN Resolution No. 4782 — Establishes, for a determined period, due to potential impacts of Covid-19 on the economy, temporary criteria for the characterization of credit operation restructurings, for credit risk management purposes

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 an extraordinary session held on March 16, 2020, based on arts. 4, item VIII, of the aforementioned Law, 2, item VI, and 9 of Law No. 4,728, of July 14, 1965, 20, § 1, of Law No. 4,864, of November 29, 1965, 7 and 23, item "a", of Law No. 6,099, of September 12, 1974, 1, item II, of Law No. 10,194, of February 14, 2001, 6 of Decree-Law No. 759, of August 12, 1969, and 1, § 1, of Complementary Law No. 130, of April 17, 2009, R E S O L V E S :
Art. 1 For credit risk management purposes, restructurings of credit operations carried out up to and including September 30, 2020, are exempt from observing the provisions of items I and III of § 1 of art. 24 of Resolution No. 4,557, of February 23, 2017:
§ 1 The provisions of the caput do not apply to the restructuring of operations:
I - already characterized as problematic assets on the date of publication of this Resolution; or II - with evidence of the counterparty's lack of financial capacity to honor the obligation under the new agreed conditions. § 2 Credit analysis documentation related to restructurings carried out under this Resolution must be kept available to the Central Bank of Brazil for five years. 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