Regulatory Alerts2020-04-30 | Resolução CMN 4807CMN Resolution No. 4807 Amending Resolutions 4801 and 4802 Regarding Rural Credit Measures for Covid-19 and Drought Mitigation
The Brazilian National Monetary Council, through the Central Bank of Brazil, issued Resolution No. 4807 to amend the Rural Credit Manual provisions established by Resolutions 4801 and 4802. The resolution modifies the Pronaf and Pronamp programs to allow up to 40% and 25% of budgets, respectively, for specific purposes and permits the use of operation balances to meet Pronaf sub-exigibility requirements. Additionally, it sets a credit limit of R$65 million per cooperative for the Procap-Agro program, with a maximum of R$100,000 per active associate for debt renegotiation.
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