CMN Resolution No. 5,277 - Financing Conditions for New or Used Truck Fleet Renewal under Provisional Measure No. 1,328

Resolution No. 5,277

CMN RESOLUTION NO. 5,277, OF DECEMBER 19, 2025

Establishes the conditions, financial charges, deadlines, and other regulatory norms applicable to financing lines for the acquisition of new or used trucks for fleet renewal, as provided for in Article 2 of Provisional Measure No. 1,328, of December 16, 2025.

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 December 19, 2025, considering the provisions of Article 4, caput, item VI, of Law No. 4,595, of December 31, 1964, and based on Provisional Measure No. 1,328, of December 16, 2025,

R E S O L V E D:

Article 1. This Resolution establishes the conditions, financial charges, deadlines, and other regulatory norms applicable to financing lines for the acquisition of new or used trucks for fleet renewal, as provided for in Article 2 of Provisional Measure No. 1,328, of December 16, 2025.

Sole Paragraph. The financial conditions established in this Resolution apply when the resources referred to in Article 2, caput, of Provisional Measure No. 1,328, of December 16, 2025, for the availability of the financing lines governed by this Resolution, are combined with resources from the National Bank for Economic and Social Development – BNDES for the granting of said financing lines, observing the provisions of Article 2, caput, item IV.

Article 2. The following conditions apply to the financing lines referred to in Article 1:

I - beneficiaries: independent freight carriers and natural persons associated with road freight transport cooperatives, individual entrepreneurs, and legal entities in the road freight transport sector;

II - purpose of resource application: financing for the acquisition of new or used trucks for fleet renewal, insurance of the asset, and credit insurance, when contracted together with said asset, in accordance with the provisions of Article 2, § 6º, of Provisional Measure No. 1,328, of December 16, 2025, and observing the criteria of Ordinance GM/MDIC No. 345, of December 18, 2025;

III - operation modality: financing will be granted exclusively indirectly, through financial institutions authorized by BNDES;

IV - composition of financing resource sources:

a) 60% (sixty percent) from the resources referred to in Article 2 of Provisional Measure No. 1,328, of December 16, 2025; and

b) 40% (forty percent) from BNDES resources;

V - financial charges to borrowers, as remuneration for the sources, based on the weighted average of the following rates, according to the proportion defined in item IV:

a) as remuneration for the resource source referred to in Article 2 of Provisional Measure No. 1,328, of December 16, 2025:

1. 1% p.a. (one percent per year) for independent freight carriers and natural persons associated with road freight transport cooperatives who acquire new trucks;

2. 1% p.a. (one percent per year) for independent freight carriers and natural persons associated with road freight transport cooperatives who acquire used trucks and prove the forwarding of the vehicle delivered as counterparty to the legal entity for dismantling motorized land vehicles, in accordance with Ordinance GM/MDIC No. 345, of December 18, 2025;

3. 2% p.a. (two percent per year) for independent freight carriers and natural persons associated with road freight transport cooperatives who acquire used trucks;

4. 3% p.a. (three percent per year) for individual entrepreneurs and legal entities in the road freight transport sector who acquire new trucks and prove the forwarding of the vehicle delivered as counterparty to the legal entity for dismantling motorized land vehicles, in accordance with Ordinance GM/MDIC No. 345, of December 18, 2025; and

5. 5.5% p.a. (five and five-tenths percent per year) for individual entrepreneurs and legal entities in the road freight transport sector who acquire new trucks; and

b) for coverage of financial cost of BNDES resources referred to in item IV, letter “b”, the financial conditions in force for BNDES resources apply, according to its specific regulation;

VI - financial charges to borrowers, as remuneration for financial institutions:

a) from BNDES: up to 1.25% p.a. (one and twenty-five hundredths percent per year); and

b) from the financial institution operator authorized by BNDES:

1. for independent freight carriers and natural persons associated with road freight transport cooperatives: up to 5% p.a. (five percent per year); and

2. for individual entrepreneurs and legal entities in the road freight transport sector: up to 3% p.a. (three percent per year);

VII - repayment term: up to sixty months, including up to six months of principal grace period;

VIII - maximum financing value per borrower: up to R$50,000,000.00 (fifty million reais); and

IX - risk of the operation: borne by the financial institution operator authorized by BNDES, with BNDES remaining liable to the resource source referred to in Article 2 of Provisional Measure No. 1,328, of December 16, 2025, for the payment of principal and remuneration referred to in item V, letter “a”.

§ 1º The interest rates of financing contracts shall be calculated by converting the charges provided for in items V and VI of the caput into factors, as applicable, and their subsequent multiplication.

§ 2º Capitalization of the financial charges referred to in this article is not permitted during the grace period.

Article 3. BNDES and the financial institutions authorized by it may charge borrowers, in addition to the financial charges provided for in Article 2, caput, item VI, other charges or commissions usually practiced in their operations, according to their operational policies, including a charge for credit reservation, when provided for in the contract, observing the incidence hypotheses and values published on their respective official internet pages.

Article 4. The conditions provided for in this Resolution apply to financing applications filed with BNDES until June 30, 2026.

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

GABRIEL MURICCA GALÍPOLO

President of the Central Bank of Brazil