Normative Instruction BCB No. 568 of December 19, 2024

ANNEX TO THE DECREE

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

NORMATIVE INSTRUCTION BCB NO. 568, OF DECEMBER 19, 2024

Adjusts provision of the MCR - Document 1 of the Rural Credit Manual (MCR) to alter the period during which the Rural Credit and Proagro Operations System (Sicor) will not receive records of information related to the Agricultural Activity Guarantee Program.

The Head of the Department of Regulation, Supervision and Control of Rural Credit and Proagro Operations (Derop), using the powers conferred upon him by art. 23, item I, letter “a”, of the Internal Regulations of the Central Bank of Brazil, published by BCB Resolution No. 340, of September 21, 2023, and considering the provisions of item 4 of Section 6 (Accounting and Control) of Chapter 3 (Operations) and letter “m” of item 1 of Section 1 (General Provisions) of Chapter 12 of the Rural Credit Manual (MCR),

R E S O L V E S:

Art. 1º
Item 17 of the MCR - Document 1 (Requirements and Filling Instructions for the Rural Credit and Proagro Operations System - Sicor) of the Rural Credit Manual (MCR) shall enter into force with the following alteration:

“17 -
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c) between December 26 and January 1 of the following year, Sicor will not receive:

I - records of operation enrollment in Proagro, Proagro Loss Communications (COP) nor additions of Proagro Loss Verification Reports (RCP) and Proagro Judgment Summaries;

II - requests for addition, alteration or exclusion of cédulas with Proagro;

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e) the deadlines related to MCR 12-3-13 and 14 are suspended during the period provided for in letter “c” of this item.”(NR)

Sole Paragraph. The MCR - Document 1 of the MCR is available on the website of the Central Bank of Brazil, on the MCR consultation page, available at the electronic address www3.bcb.gov.br/mcr.

Art. 2º
This BCB Normative Instruction enters into force on the date of its publication.

Joao Ferrari Neto
Head of Derop, substitute

NOTE

The Rural Credit and Proagro Operations System (Sicor), created by the Central Bank of Brazil (BCB) to administer rural credit, is the platform through which rural credit operations are registered. Sicor requires that financial agents transfer resources to rural credit beneficiaries only after the completion of registration, which is processed in real time. In the processing of operation information, database cross-referencing and queries to other systems external to the BCB are performed, allowing for the validation of records and confirmation of the veracity of information, preventing operations that do not comply with regulations from being formalized as rural credit.

2. In order to adjust Proagro accounting calculations to best practices and avoid inconsistencies, enabling data to be properly consolidated in the program's financial balance sheet, this BCB Normative Instruction (IN BCB) aims to amend item 17 of MCR - Document 1 of the Rural Credit Manual (MCR), extending from December 26 to January 1 of the following year the period during which Sicor will not receive records of operation enrollment in Proagro, Proagro Loss Communications (COP) nor additions of Proagro Loss Verification Reports (RCP) and Proagro Judgment Summaries. In addition, the financial institution will also not be able to request requests for addition, alteration or exclusion of cédulas with Proagro enrollment in Sicor during this period, ceasing financial movements. Finally, the deadlines for returning the additional amounts provided for in MCR 12-3-13 and 14 are suspended during the Sicor closure period.

3. It should be noted that, by virtue of art. 24 of Decree No. 10.411, of June 30, 2020, the issuance of normative acts by 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, in its article 4º, the aforementioned decree establishes the hypotheses for exemption from carrying out an AIR. This BCB IN falls under the hypothesis provided for in item III, a normative act considered to have low impact, since it does not cause an increase in costs for economic agents, because, for the current agricultural year, the measure does not alter the contracting deadlines, as currently financial institutions and borrowers already anticipate contracting and procedures that would be carried out in the last week of the year, if necessary. Thus, based on item III of art. 4º of Decree No. 10.411, of 2020, it is understood that the issuance of this BCB IN is exempt from carrying out an AIR.

Joao Ferrari Neto
Head of Derop, substitute