CMN Resolution No. 4826 - Procedures for Financial Institution Operations under Complementary Laws No. 101/2000 and No. 173/2020

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 an extraordinary session held on June 17, 2020, considering the provisions of Article 4, items VI and VIII, of the aforementioned Law,

R E S O L V E S:

Article 1. The operations referred to in Article 4 of Complementary Law No. 173 of May 27, 2020, and §§ 1, 2, and 3 of Article 65 of Complementary Law No. 101 of May 4, 2000, are not subject to the prohibitions of items I and II of Article 4 of Resolution No. 4,589 of June 29, 2017, and to the procedures of Resolution No. 3,751 of June 30, 2009, and must observe the provisions of this Resolution.

Article 2. It shall be the responsibility of financial institutions to verify the classification of the operation within the provision contained in the regulation provided for in Article 1 of this Resolution.

Article 3. The verification of compliance with the limits and conditions regarding the realization of the operations referred to in Article 4 of Complementary Law No. 173 of 2020 shall be carried out directly by the creditor financial institutions.

Article 4. For the purpose of carrying out credit operations with the guarantee of the Union referred to in §§ 1, 2, and 3 of Article 65 of Complementary Law No. 101 of 2000, institutions authorized to operate with the public sector must centralize the receipt of documents necessary to verify the applicable limits and conditions, being responsible for forwarding the request to the Ministry of Economy.

§ 1. In the case of a firm proposal regarding the credit operations referred to in the main text, issued without complete verification of the documentary instruction in the manner established by the Ministry of Economy in a specific normative act, the request must be returned to the financial institution so that it can be instructed again.

§ 2. The formalization of the contractual instruments of the credit operations provided for in this article shall only be effective after the manifestation of the National Treasury Secretariat, an organ integrated into the Ministry of Economy, regarding the verification of the limits and conditions applicable to the aforementioned operations.

Article 5. This Resolution enters into force on the date of its publication.

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