CMN Resolution No. 5107 — Authorizes the extension of wheat cultivation credit operations contracted in the 2022/2023 agricultural year

RESOLUTION
CMN No. 5,107, OF OCTOBER 26, 2023

Authorizes the extension of wheat cultivation credit operations contracted in the 2022/2023 agricultural year.

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 October 26, 2023, considering the provisions of Article 4, item VI, of Law No. 4,595, of 1964, Articles 4, 14, and 21 of Law No. 4,829, of November 5, 1965, and Article 5 of Law No. 10,186, of February 12, 2001,

R E S O L V E S:

Article 1. The extension of the maturity period of rural credit operations for cultivation destined for wheat, contracted with controlled resources, is authorized, at the discretion of the financial institution, observing the following conditions:

I - beneficiaries:
wheat rural producers;

II - eligible operations: cultivation for wheat contracted in the 2022/2023 agricultural year, observing that:

a) operations in a state of default on the date of publication of this Resolution must remain in that condition until the effective formalization of the extension of the overdue debtor balance by the borrower;

b) operations in a state of compliance on the date of publication of this Resolution must remain in that condition until the effective formalization of the extension;

III - term: up to 4 (four) months, from the original due date, respecting the provisions of MCR 3-2-18;

IV - expression of interest: the borrower must formally express to the financial institution, by the original due date, interest in extending their wheat cultivation operations; and

V - formalization term: up to 30 (thirty) days after the borrower's expression of interest.

Sole Paragraph. The extension provided for in this article, when referring to operations backed by resources subject to interest rate equalization by the National Treasury, is conditioned on reclassification by the financial institution to mandatory resources or another non-equalizable source, admitted, in the case of operations under the National Program for Strengthening Family Agriculture (Pronaf), the maintenance of the equalized source provided that the extended value is computed within the percentage limit referred to in MCR 10-1-25-“c”-I, also observing MCR 10-1-25-“c”-II.

Article 2. This Resolution enters into force on the date of its publication.

ROBERTO DE OLIVEIRA CAMPOS NETO
President of the Central Bank of Brazil