CMN Resolution No. 5133 — Establishes Temporary Criteria for Credit Restructuring Due to Climate Emergency in Rio Grande do Sul

VOTE

CMN RESOLUTION NO. 5,133, OF MAY 13, 2024

Regulatory document revoked, as of 1/1/2025, by CMN Resolution No. 4,966, of November 25, 2021.

Establishes, for a limited period, in view of the impacts of the climate emergency in Rio Grande do Sul, temporary criteria for characterizing the restructuring of credit operations held by residents in that federative unit, for the purposes of credit risk management.

The Central Bank of Brazil, in accordance with Article 9 of Law No. 4,595, of December 31, 1964, makes public that the Monetary Council, in an extraordinary session held on May 13, 2024, based on Articles 4, item VIII, of the aforementioned law, 20, § 1, of Law No. 4,864, of November 29, 1965, 7 and 23, item “a”, of Law No. 6,099, of September 12, 1974, 1, item II, of Law No. 10,194, of February 14, 2001, 6 of Decree-Law No. 759, of August 12, 1969, and 1, § 1, of Complementary Law No. 130, of April 17, 2009,

R E S O L V E S:

Article 1. For the purposes of credit risk management, restructurings of operations carried out in the period from May 1, 2024, to December 31, 2024, as a result of the economic effects caused by climate events in the state of Rio Grande do Sul, subject to Legislative Decree No. 36, of May 7, 2024:

I - are exempt from being considered as an indicator for the purposes of the provisions of § 1 of Article 24 of Resolution No. 4,557, of February 23, 2017, and § 1 of Article 27 of Resolution No. 4,606, of October 19, 2017, with a view to characterizing the respective exposure as a problem asset; and

II - allow for the immediate reversal of the characterization of the exposure as a problem asset that has been carried out based exclusively on item I of § 1 of Article 24 of Resolution No. 4,557, of 2017, or on item I of § 1 of Article 27 of Resolution No. 4,606, of 2017.

§ 1. The provisions of the caput do not apply to the restructuring of operations:

I - already characterized as problem assets on the date of publication of this Resolution; or

II - with evidence of the counterparty's inability to honor the obligation under the new conditions agreed upon.

§ 2. Documentation of credit analysis related to restructurings carried out under this Resolution must be kept available to the Central Bank of Brazil for five years.

Article 2. The provisions of this Resolution do not apply to consortium administrators, payment institutions, securities brokerage firms, securities distribution firms, and currency brokerage firms, which must observe the regulation issued by the Central Bank of Brazil in the exercise of their legal duties.

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

AILTON DE AQUINO SANTOS
Substitute President of the Central Bank of Brazil