Resolution BCB No. 261 — Amends Deadlines for Financial Cost Collection and Payment for Non-Compliance with Rural Credit Directives

Resolution No. 261

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

RESOLUTION BCB NO. 261, OF NOVEMBER 22, 2022

Amends deadlines related to the collection and payment of the financial cost by the financial institution that fails to comply with the requirements and sub-requirements for directing resources for application in rural credit, as set forth in Section 5 (Calculation and Collection of Financial Cost for Deficiency in Compliance) of Chapter 6 (Resources) of the Rural Credit Manual (MCR).

The Collegiate Board of the Central Bank of Brazil, in a session held on November 22, 2022, based on art. 21, § 2º, of Law No. 4,829, of November 5, 1965,

RESOLVES:

Art. 1º Section 5 (Calculation and Collection of Financial Cost for Deficiency in Compliance with Requirements) of Chapter 6 (Resources) of the Rural Credit Manual (MCR) shall be in effect with the following alterations:

“1

• The financial institution that fails to comply with the requirements and sub-requirements for directing resources for application in rural credit of the Mandatory Resources, Rural Savings, and Letters of Credit of the Agribusiness (LCA), shall be subject, on the last business day of September of the year in which the compliance period ends, to the payment of a financial cost, in accordance with this Section.” (NR)

“8

• The Central Bank of Brazil shall publish the TJME values by the tenth business day of August of the year in which the compliance period ends.” (NR)

“10

• The payment of the financial cost:

a) shall be previously informed to the financial institution, by means of notification, by the tenth business day of August of the year in which the compliance period ends; and

................................................................................................................”
(NR)

“12

• The payment of the financial cost on a date subsequent to that established in this Section shall be updated from the due date until the date of actual payment, through the application of the Selic Rate.” (NR)

“13

• After receiving the notification informing the amount of the financial cost due, the financial institution may express its position according to the timeframes and procedures established by Law No. 9,784, of January 29, 1999, and other applicable norms.” (NR)

Art. 2º This Resolution enters into force on December 1, 2022.

Otávio Ribeiro Damaso
Director of Regulation