Normative Instruction BCB No. 610 of April 16, 2025: Procedures and Technical Guidelines for Financial Institutions Using Rural Credit Linked to Interfinancial Transfers

ANNEX TO THE DECREE

The current text of the MCR can be found at the following electronic address: www3.bcb.gov.br/mcr.

NORMATIVE INSTRUCTION BCB NO. 610, OF APRIL 16, 2025

Establishes procedures and technical guidelines applicable to financial institutions that opt to use rural credit operations linked to interfinancial transfers to fulfill rural credit obligations, in accordance with MCR 6-1-14.

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, annexed to Resolution BCB No. 340, of September 21, 2023, and considering the provisions of § 3 of Art. 27 of Law No. 11,076, of December 30, 2004, and item 14 of Section 1 (General Provisions) of Chapter 6 (Resources) of the Rural Credit Manual (MCR),

RESOLVES:

Art. 1. Section 1 (General Provisions) of Chapter 6 (Resources) of the Rural Credit Manual (MCR) shall enter into force with the following alterations:

“14-A - The financial institution that receives resources from interfinancial transfers, as established in MCR 6-1-14, must:

a) provide all information regarding the rural credit operation carried out with the resources transferred to the financial institution acting as the transferor of resources;

b) report the Sicor fields concerning the source of resources and the CNPJ of the financial institution responsible for fulfilling the obligation, for the purpose of fulfilling the obligation by the financial institution acting as the transferor of resources;

c) register and keep updated the static and dynamic data of the operation in Sicor.” (NR)

“14-B - The National Bank for Economic and Social Development (BNDES) and development banks, when providing resources for interfinancial transfers as established in MCR 6-1-14, must:

a) include in the contracts signed with accredited financial institutions a clause requiring the provision of information and records regarding the balances that make up the average of applications to fulfill rural credit obligations and the respective codes subject to the integration between Sisex and Sicor;

b) maintain its information system reconciled with the information system of the accredited financial institutions regarding information on rural credit operations linked to interfinancial transfers.” (NR)

Art. 2. The Department of Regulation, Supervision and Control of Rural Credit and Proagro Operations (Derop) will make available to financial institutions, upon the opening of the deadline for submission of the July 2025 position of MCR - Document 6, through the Rural Credit Obligations System (Sisex), a report with the operations whose balances make up the average of applications to fulfill rural credit obligations, referring to the codes subject to the integration between Sisex and the Rural Credit and Proagro Operations System (Sicor), with identification of the Ref Bacen (field 3) and Order Number (field 18) fields extracted from Sicor.

Art. 3. This Normative Instruction BCB enters into force on the date of its publication.

Claudio Filgueiras Pacheco Moreira

Head of Derop

NOTE

This Normative Instruction (IN BCB) aims to disseminate procedures and technical guidelines applicable to development banks, the National Bank for Economic and Social Development (BNDES), and other financial institutions that opt to use rural credit operations linked to interfinancial transfers for the purpose of fulfilling rural credit obligations, in accordance with item 14, of Section 1 (General Provisions), of Chapter 6 (Resources) of the Rural Credit Manual (MCR).

2. Considering the financial effects of non-compliance with obligations, it is necessary to highlight, through a clause in the contract signed between the development bank or BNDES and the accredited financial institutions: (i) the periodic submission of information by the accredited financial institution and (ii) the obligation of the accredited financial institution to carry out the necessary registrations in the Rural Credit and Proagro Operations System (Sicor) of rural credit operations arising from transfers, so that the transferring institution can fulfill the obligations and sub-obligations of rural credit with the balance of these operations, in accordance with MCR 6-1-14.

3. It is important to highlight 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), except for the exemptions from carrying out an AIR provided for in its Article 4. This proposal, being a normative act aimed at preserving liquidity, solvency, or integrity of financial, capital, and foreign exchange markets, falls under the exemption from carrying out an AIR provided for in item V, letter “b” of Art. 4 of the aforementioned Decree.

Claudio Filgueiras Pacheco Moreira

Head of Derop