CMN Resolution No. 5138 — Defines Resources for Financing Under the Coffee Economy Defense Fund (Funcafé) and Defines Institutions Authorized to Operate Fund Resources

The current text of the MCR is available at the following electronic address: www3.bcb.gov.br/mcr.

CMN RESOLUTION NO. 5,138, OF MAY 23, 2024

Defines the resources for financing under the Coffee Economy Defense Fund (Funcafé) and defines the institutions that may directly operate the Fund's resources.

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 May 23, 2024, considering the provisions of item VI of Article 4 of Law No. 4,595, of 1964, Articles 4 and 14 of Law No. 4,829, of November 5, 1965, the sole paragraph of Article 4 of Decree No. 94,874, of September 15, 1987, and Article 6 of Law No. 10,186, of February 12, 2001,

R E S O L V E D:

Art. 1 Section 1 (General Provisions) of Chapter 9 (Coffee Economy Defense Fund – Funcafé) of the Rural Credit Manual (MCR) shall be amended as follows:

“1 - The resources of the Coffee Economy Defense Fund (Funcafé) must be applied in credit operations by financial institutions integrated into the National Rural Credit System (SNCR), accredited by Funcafé, for the purposes set forth in this Chapter, observing the following provisions:

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i) - financial institutions authorized to operate Funcafé resources:

I - development agencies;

II - commercial banks;

III - development banks;

IV - multiple banks;

V - cooperative banks;

VI - central credit cooperatives; and

VII - standalone credit cooperatives not affiliated with a central cooperative or a cooperative bank.” (NR)

Art. 2 Section 8 (Resource Allocation) of Chapter 9 (Coffee Economy Defense Fund – Funcafé) of the MCR shall be amended as follows:

“1 - The amount of R$6,886,605,753.00 (six billion eight hundred and eighty-six million six hundred and five thousand seven hundred and fifty-three reais) of the resources allocated in the General Budget of the Union (OGU) for financing under the Coffee Economy Defense Fund (Funcafé) in the 2024 fiscal year is hereby approved.” (NR)

Art. 3 This Resolution enters into force on June 3, 2024.

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