Normative Instruction BCB No. 361 — Amending Annex I of Document 6 (Statement of Rural Credit Obligations and Applications) of the Rural Credit Manual (MCR)

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

NORMATIVE INSTRUCTION BCB NO. 361, OF MARCH 10, 2023

Amends Annex I of Document 6 (Statement of Rural Credit Obligations and Applications) of the Rural Credit Manual (MCR).

The Head of the Department of Regulation, Supervision and Control of Rural Credit and Proagro Operations (Derop), using the powers conferred upon him by Article 99, item II, letter “a”, of the Internal Regulations of the Central Bank of Brazil, annexed to Ordinance No. 108.150, of August 27, 2020, and Article 4 of Circular No. 3.801, of July 7, 2016, and having in view the provisions of item 11 of Section 1 of Chapter 6 of the Rural Credit Manual (MCR) and Article 1 of BCB Resolution No. 261, of November 22, 2022,

R E S O L V E S:

Article 1. Annex I (Instructions and Concepts) of Document 6 (Statement of Rural Credit Obligations and Applications) of the MCR shall enter into force with the following amendments:

“7.4 - ................................................................................................................

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h) Consult financial cost postings: consultation of the value to be charged as financial cost on the last business day of September of the year in which the non-compliance with rural credit obligations was verified.” (NR)

“11.1 - A financial institution that incurs a deficiency in rural credit application obligations, at the end of the compliance period (position reported for the month of June), regarding resources from MCR 6-2, 6-4, and 6-7, as calculated by the MCR - Document 6, shall be subject, on the last business day of September of the year in which the compliance period is finalized, to the payment of financial cost, in the manner of MCR 6.” (NR)

Article 2. Annex I of the MCR - Document 6 is available on the electronic site of the Central Bank of Brazil, on the MCR consultation page, available at the electronic address www3.bcb.gov.br/mcr.

Article 3. This BCB Normative Instruction enters into force on April 3, 2023.

Carlos Henrique Moraes Zanatta Amato
Head of Derop, substitute

NOTE

The regulatory amendments promoted by BCB Resolution No. 261, of November 22, 2022, entail adjustments to Annex I (Instructions and Concepts) of Document 6 (Statement of Rural Credit Obligations and Applications) of the Rural Credit Manual (MCR), for the purpose of charging financial costs for deficiencies in the fulfillment of rural credit obligations during the compliance period of 2022/2023 and subsequent periods.

2. In this regard, this Normative Instruction merely harmonizes the references to the deadline for payment of financial costs existing in MCR Document 6 with the new deadline established by BCB Resolution No. 261, of 2022, without any additional impacts on the fulfillment of obligations already imposed on financial institutions. In this sense, for the purposes of the provisions of Decree No. 10.411, of June 30, 2020, which regulates Regulatory Impact Analysis (RIA), as provided in Article 5 of Law No. 13.874, of September 20, 2019, and Article 6 of Law No. 13.848, of June 25, 2019, this Normative Instruction is exempt from RIA under item II of the caput of Article 4 of Decree No. 10.411, of 2020, as it is a normative act intended to regulate an obligation defined in a hierarchically superior norm that does not permit, technically or legally, different regulatory alternatives.

Carlos Henrique Moraes Zanatta Amato
Head of Derop, substitute