CMN Resolution No. 5,157 — Establishes Additional Mandatory Application in Rural Credit for Demand Resources for the Compliance Period from July 1, 2024, to June 30, 2025

The current text of the MCR can be found at the following electronic address: www3.bcb.gov.br/mcr.

CMN RESOLUTION NO. 5,157, OF JULY 3, 2024

Establishes additional mandatory application in rural credit for demand resources for the compliance period from July 1, 2024, to June 30, 2025, revokes the mandatory application percentage for demand resources referred to in MCR 6-2-3-A, which would have been applied starting from the compliance period beginning on July 1, 2024, and revokes provisions of CMN Resolution No. 5,119, of February 1, 2024, regarding rules applicable to rural credit operations with resources from the Letter of Credit of the Agribusiness when subject to the Union's subsidy, in the form of financial charge equalization.

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 July 2, 2024, considering the provisions of Article 4, caput, item VI, of Law No. 4,595, of December 31, 1964, and Articles 4, 14, and 21 of Law No. 4,829, of November 5, 1965,

R E S O L V E S:

Article 1. Section 8 (Transitional Norms) of Chapter 6 (Resources) of the Rural Credit Manual – MCR shall enter into force with the following alterations:

“22 - The balances of operations contracted to comply with the additional mandatory application referred to in item 17 may be reclassified to comply with the additional mandatory application referred to in item 23, starting from the compliance period beginning on 7/1/2024.” (NR)

“23 - The financial institutions referred to in MCR 6-2-7 are subject to the additional mandatory application in rural credit of demand resources for the compliance period from 7/1/2024 to 6/30/2025, observing the provisions in items 24 to 28.” (NR)

“24 - The additional mandatory application referred to in item 23 is the duty of the financial institution to keep applied, in rural working capital operations supported by MCR 3-2, the value corresponding to 1.5% (one and five-tenths percent) of the value calculated in accordance with MCR 6-2-2, observing the following conditions:

a) the calculation period:

I - begins on the first business day of the month of July 2023; and

II - ends on the last business day of the month of June 2024;

b) the financing must be contracted between 7/1/2024 and 6/30/2025;

c) the financing must observe:

I - the limit of BRL 3,000,000.00 (three million reais), which does not communicate with the limits referred to in Table 2 of MCR 7-1; and

II - the conditions established in MCR 3-2;

d) the financing is subject to financial charges freely agreed upon between the parties.” (NR)

“25 - In complying with the additional mandatory application referred to in item 23, financial institutions must observe the following conditions:

a) the compliance period:

I - begins on the first business day of the month of July 2024; and

II - ends on the last business day of the month of June 2025;

b) financial institutions that present an additional mandatory application equal to or less than BRL 10,000,000.00 (ten million reais) are exempt from complying with this requirement;

c) institutions must edit, validate, and send information regarding compliance with the additional mandatory application in accordance with MCR - Document 6;

d) financial institutions that incur a deficiency in application must observe the provisions of MCR 6-5 applicable to the mandatory application of Mandatory Resources (MCR 6-2); and

e) the verification of compliance, under the responsibility of the Central Bank of Brazil, must be carried out starting from 7/20/2025, without prejudice to actions emanating from the Supervision area.” (NR)

“26 - The balances of operations contracted to comply with the additional mandatory application referred to in item 23 may comply with the mandatory application of Mandatory Resources (MCR 6-2) starting from 7/1/2025, without the need to alter the source of resources of the aforementioned operations.” (NR)

“27 - The use of DIR-Geral, referred to in MCR 6-6-2-“a”, is admitted for compliance with the additional mandatory application referred to in item 23, observing that:

a) the DIR must be contracted between 7/1/2024 and 6/30/2025;

b) the balances used to comply with the additional mandatory application cannot be accounted for compliance with the General Mandatory Application of Mandatory Resources during the compliance period from 7/1/2024 to 6/30/2025; and

c) the general norms for Interfinancial Deposits Linked to Rural Credit (MCR 6-6) that do not conflict with the provisions contained in items 24 to 27 apply to these operations.” (NR)

“28 - The general norms for operations supported by Mandatory Resources (MCR 6-2) that do not conflict with the provisions contained in items 24 to 27 apply to operations contracted to comply with the additional mandatory application referred to in item 23.” (NR)

Article 2. The following are revoked:

I - item 3-A of Section 2 (Mandatory) of Chapter 6 (Resources) of the MCR; and

II - the following provisions of CMN Resolution No. 5,119, of February 1, 2024, published in the Official Gazette of the Union on February 2, 2024:

a) Article 4; and

b) Article 5, caput, item II.

Article 3. This Resolution enters into force on the date of its publication.

GABRIEL MURICCA GALÍPOLO
Acting President of the Central Bank of Brazil