Regulatory Alerts2020-05-29 | Resolução CMN 4819CMN Resolution No. 4819 - Amends Resolution No. 4,676 Regarding Real Estate Financing Conditions
The Central Bank of Brazil, acting on behalf of the National Monetary Council, issued Resolution No. 4819 to amend Resolution No. 4,676 of 2018 regarding real estate financing. The amendment introduces Article 25-A, allowing financial institutions to disburse funds for loans contracted by September 30, 2020, immediately after the preliminary registration of the collateral title, rather than waiting for full registration. This discretionary measure suspends the application of Article 9 of the original resolution for transactions exercising this new facility.
The Central Bank of Brazil, pursuant to Article 9 of Law No. 4,595 of December 31, 1964, makes it public that the National Monetary Council, in a session held on May 29, 2020, based on Articles 4, items VI and VIII, of the aforementioned Law, Article 7 of Decree-Law No. 2,291 of November 21, 1986, and Article 95 of Law No. 13,097 of January 19, 2015,
R E S O L V E S:
Art. 1. Resolution No. 4,676 of July 31, 2018, shall enter into force with the following alteration:
“Art. 25-A. The release of funds related to real estate financing contracted by September 30, 2020, may be carried out, at the discretion of financial institutions and other institutions authorized to operate by the Central Bank of Brazil, after the preliminary registration of the title constituting the guarantee at the competent Real Estate Registry.
Sole Paragraph. In the event that the facility provided for in the caput is exercised, the provisions of Article 9 of this Resolution shall not apply.” (NR)
Art. 2. This Resolution enters into force on the date of its publication.
Roberto de Oliveira Campos Neto President of the Central Bank of Brazil