CMN Resolution No. 5165 — Adjusts Rules on Purchase and Sale Option Contracts as Agricultural Policy Instruments in the Rural Credit Manual

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

CMN RESOLUTION NO. 5,165, OF AUGUST 22, 2024

Adjusts rules in Section 9 (Purchase and Sale Option Contracts as Agricultural Policy Instruments) of Chapter 4 (Purposes and Special Instruments of Agricultural Policy) 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 a session held on August 22, 2024, considering the provisions of Art. 4, caput, item VI, of Law No. 4,595, of December 31, 1964, Arts. 4 and 14 of Law No. 4,829, of November 5, 1965, and Art. 3-A of Law No. 8,427, of May 27, 1992,

R E S O L V E S:

Art. 1 The Section 9 (Purchase and Sale Option Contracts as Agricultural Policy Instruments) of Chapter 4 (Purposes and Special Instruments of Agricultural Policy) of the Rural Credit Manual – MCR shall be amended as follows:

“2 - ............................................................................................................................

a) acquirers:
rural producers and their production cooperatives;

b) premium:
the value that the acquirer must pay for the purchase of the contract, fixed at a minimum of 0.03% (three hundredths of a percent) of the exercise price value;

..................................................................................................................................

k) ...............................................................................................................................

..................................................................................................................................

IV - additional margin of up to 20% (twenty percent) of the minimum price, established based on market expectations and when there is a need to stimulate commercialization.” (NR)

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

OTÁVIO RIBEIRO DAMASO
President of the Central Bank of Brazil acting