CMN Resolution No. 4947 — Issuance of Agricultural Receivables Certificates (CRA) with exchange rate variation correction clause for investors resident in Brazil

Resolution No. 4,947

CMN RESOLUTION NO. 4,947, OF SEPTEMBER 30, 2021

Provides for the issuance of Agricultural Receivables Certificates (CRA) with a clause correcting for exchange rate variation for investors resident in Brazil.

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 September 30, 2021, based on § 4 of Article 37 of Law No. 11,076, of December 30, 2004,

RESOLVES:

Article 1. The Agricultural Receivables Certificate (CRA) with a clause correcting for exchange rate variation may be issued in favor of a resident investor, observing the following conditions regarding the class of CRA and the category of investor, in accordance with the regulation of the Securities and Exchange Commission (CVM):

I - any class of CRA may be issued in favor of a professional investor; and

II - only senior and subordinated mezzanine classes may be issued in favor of a qualified investor.

Article 2. This Resolution enters into force on November 1, 2021.

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