Resolution CMN No. 2201 — Establishes procedures for financing under the Bahia Cocoa Crop Recovery Program with risk to the National Treasury

RESOLUTION NO. 2201

Establishes procedures to be observed in financing under the aegis of the Bahia Cocoa Crop Recovery Program, with risk to the National Treasury.

The CENTRAL BANK OF BRAZIL, in accordance with Article 9 of Law No. 4,595, of December 31, 1964, makes public that the MONETARY COUNCIL, in a session held on August 30 and 31, 1995, considering the provisions of Article 9, paragraph 2, of Provisional Measure No. 1,105, of August 25, 1995,

RESOLVES:

Article 1. In the granting of financing under the aegis of the Bahia Cocoa Crop Recovery Program, governed by Resolution No. 2,165, of June 19, 1995, with risk to the National Treasury, the following procedures must be observed:

I - the selection of eligible operations shall be the responsibility of the General Supervision Groups (GS) and Regional Coordination Groups (RC) referred to in Article 1, item XIV, of the aforementioned Resolution No. 2,165/95;

II - the financial agent shall inform the National Treasury Secretariat (STN) and the National Bank for Economic and Social Development (BNDES) of the value of the operations carried out, amortization dates, and other data requested by the STN;

III - immediately after the date agreed upon for the amortization of the financing, the financial agent shall provide the STN and BNDES with a list of obligations not settled by the final borrowers and request the corresponding financial coverage;

IV - the return of the resources backing the operations shall occur within the periods agreed upon in the respective contracts, when paid by the final borrowers, or within up to 60 (sixty) days after maturity, in the case of payment by the National Treasury;

V - the financial agent shall make every effort to link guarantees, including real guarantees, to the loans, taking into account the criteria defined by the Supervision and Coordination Groups of the Program.

Article 2. This Resolution enters into force on the date of its publication.

Brasília, September 22, 1995

Gustavo Jorge Laboissière Loyola
President