Normative Instruction BCB No. 251 — Revokes Circular Letters Regarding Rural Credit and the Agricultural Activity Guarantee Program (Proagro)

INSTRUMENT OF NORMATIVE INSTRUCTION
BCB No. 251, OF MARCH 29, 2022

Revokes Circular Letters regarding rural credit and the Agricultural Activity Guarantee Program (Proagro), to comply with the review and consolidation of normative acts subordinate to decree as provided for in Decree No. 10,139, of November 28, 2019.

The Head of the Department of Regulation, Supervision and Control of Rural Credit and Proagro Operations (Derop), using the attribution conferred by him by art. 23, item I, letter "a", of the Internal Regulations of the Central Bank of Brazil, annexed to Ordinance No. 84,287, of February 27, 2015, and having in view arts. 5 and 6 of Decree No. 10,139, of November 28, 2019,

RESOLVES:

Art. 1. The following are revoked:

I - Circular Letter No. 2,584, of September 22, 1995;

II - Circular Letter No. 2,753, of July 22, 1997;

III - Circular Letter No. 3,180, of April 12, 2005;

IV - Circular Letter No. 3,212, of September 30, 2005;

V - Circular Letter No. 3,216, of December 9, 2005;

VI - Circular Letter No. 3,247, of October 31, 2006;

VII - Circular Letter No. 3,307, of April 7, 2008;

VIII - Circular Letter No. 3,313, of April 29, 2008;

IX - Circular Letter No. 3,340, of September 11, 2008;

X - Circular Letter No. 3,362, of December 19, 2008;

XI - Circular Letter No. 3,363, of December 19, 2008;

XII - Circular Letter No. 3,377, of February 12, 2009;

XIII - Circular Letter No. 3,443, of April 15, 2010;

XIV - Circular Letter No. 3,457, of July 1, 2010;

XV - Circular Letter No. 3,468, of October 8, 2010;

XVI - Circular Letter No. 3,469, of November 8, 2010;

XVII - Circular Letter No. 3,534, of January 27, 2012; and

XVIII - Circular Letter No. 3,549, of April 11, 2012.

Art. 2. This BCB Normative Instruction enters into force on May 2, 2022.

Claudio Filgueiras Pacheco Moreira
Head of Derop

NOTE

Decree No. 10,139, of November 28, 2019, establishes the obligation for the bodies and entities of the direct, autarchic and foundation federal public administration to review and consolidate the normative acts issued within the scope of their respective competencies. This measure aims to review, update, simplify and consolidate normative acts, in order to rationalize the regulatory stock. Based on the cited decree, this BCB Normative Instruction (IN BCB) is being issued with the aim of revoking circular letters related to Rural Credit and the Agricultural Activity Guarantee Program (Proagro), whose rules have lost efficacy or were implicitly revoked or have mitigated efficacy due to the passage of time or subsequent regulation.

2. It is also worth highlighting that, by virtue of art. 24 of Decree No. 10,411, of June 30, 2020, the issuance of normative acts by the bodies and entities of the direct, autarchic and foundation federal public administration, from October 14, 2021, must be preceded by a Regulatory Impact Analysis (AIR). However, as provided for in art. 4, item IV, of this Decree, the aforementioned Analysis is waived in the case of issuance of a normative act aimed at updating or revoking norms considered obsolete, without alteration of merit. Therefore, the measure presented through this IN BCB falls under the hypothesis of AIR waiver, as it will only revoke normative acts containing norms considered obsolete, without any alteration of merit of the current regulation.

3. Finally, it is important to clarify that the revocation of circular letters without function is a measure that increases efficiency, reduces compliance costs and legal insecurity of financial agents, as well as facilitates the dissemination in the market and in civil society of secure knowledge of the norms of Rural Credit and Proagro, contributing, consequently, to increase the efficacy of the entire financial regulation process.

Claudio
Filgueiras Pacheco Moreira
Head of Derop