CMN Resolution No. 5,210 — Establishes Rules for Resources Raised via Agricultural Credit Letter (LCA) Issuance by Credit Cooperatives and Directs Rural Credit Application

Resolution No. 5,210

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

CMN RESOLUTION NO. 5,210, OF MAY 9, 2025

Establishes rules for resources raised through the issuance of Agricultural Credit Letter – LCA by credit cooperatives that are part of cooperative systems and regulates compliance with the direction of application in rural credit arising from this raising, as provided for in Section 7 (Agricultural Credit Letter – LCA) of Chapter 6 (Resources) of the Rural Credit Manual – MCR.

The Central Bank of Brazil, in accordance with art. 9 of Law No. 4,595, of December 31, 1964, makes public that the National Monetary Council, in an extraordinary session held on May 9, 2025, considering the provisions of art. 4, caput, items VI and VIII, of the aforementioned Law, arts. 4 and 21 of Law No. 4,829, of November 5, 1965, art. 81, caput, item V, of Law No. 8,171, of January 17, 1991, and arts. 12, caput, item III, 14 and 15 of Complementary Law No. 130, of April 17, 2009,

R E S O L V E D:

Art. 1º Section 7 (Agricultural Credit Letter – LCA) of Chapter 6 (Resources) of the Rural Credit Manual – MCR shall enter into force with the following alterations:

“2 - Requirement to direct resources raised through the issuance of LCA is the duty of the financial institution to maintain applied in rural credit operations the value corresponding to 50% (fifty percent) of the value calculated in accordance with item 4.” (NR)

(Wording given to item 2 revoked by CMN Resolution No. 5,216, of 5/22/2025.)

“2-A - Regarding the direction referred to in item 2, single credit cooperatives, members of cooperative systems, must observe the following conditions when raising resources through the issuance of LCA:

a) the resources raised must be transferred in the same amounts raised, observing the maximum deadline of up to one business day:

I - to the credit confederation or cooperative bank, when members of cooperative systems organized in three levels; and

II - to the central credit cooperative, when members of cooperative systems organized in two levels;

b) it is the responsibility of the credit confederation, cooperative bank, or central credit cooperative to demonstrate the direction of resources to rural credit; and

c) the credit confederation, cooperative bank, or central credit cooperative that incurs a deficiency in application in compliance with the direction for rural credit is subject to the financial cost provided for in MCR 6-5.~~~~” (NR)

(Inclusion of item 2-A revoked by CMN Resolution No. 5,216, of 5/22/2025.)

“4 - The calculation base for the direction of resources raised in accordance with item 1 corresponds to the arithmetic mean of the daily balances of LCAs, calculated in the calculation period referred to in item 9-“a”, minus R$500,000,000.00 (five hundred million reais).” (NR)

“6 - The financial institution that calculates a direction obligation equal to or less than R$10,000,000.00 (ten million reais) is exempt from complying with the direction provided for in this Section.” (NR)

Art. 2º The following provisions of Section 7 of Chapter 6 of the MCR are revoked:

I - item 3;

II - item 4, sub-items “a” and “b”; and

III - item 5.

Art. 3º This Resolution enters into force on July 1, 2025.

Gabriel
Muricca Galípolo
President of the Central Bank of Brazil