Resolution CMN No. 3190 — Sets the Deadline for Renegotiation of Debts Originating from Rural Credit under Resolution 2,471 of 1998

RESOLUTION NO. 3190

Sets the deadline for renegotiation of debts originating from rural credit, as addressed by Resolution 2,471 of 1998.

The CENTRAL BANK OF BRAZIL, in accordance with Article 9 of Law No. 4,595 of December 31, 1964, makes public that the NATIONAL MONETARY COUNCIL, in a session held on April 29, 2004, considering the provisions of Article 4, item VI, of the aforementioned law, Articles 4 and 14 of Law No. 4,829 of November 5, 1965, Article 10 of Law No. 9,138 of November 29, 1995, Article 5 of Law No. 10,186 of February 12, 2001, Article 12 of Law No. 10,437 of April 25, 2002, and Article 20 of Law No. 10,696 of July 2, 2003,

HAS RESOLVED:

Article 1. Establish, for operations contracted until December 31, 1998 under the Program for the Recovery of the Cacao Farming of Bahia, that the renegotiation of debts addressed by Resolution 2,471 of February 26, 1998, for producers who submitted adherence proposals to Banco do Brasil S.A. until March 31, 2003, may be formalized until August 31, 2004.

§ 1. The financial institution is authorized to consider the respective operations as normal until August 31, 2004, without prejudice to the observance of the provisions of Resolution 2,682 of December 21, 1999, regarding the classification of the operations in question.

§ 2. The values related to the acquisition of Treasury National Titles must be:

I - deposited by the borrowers at Banco do Brasil S.A. until July 20, 2004;

II - transferred by the financial institution to the National Treasury Secretariat, within the timeframes established by that secretariat.

§ 3. The renegotiation provided for in this article is conditioned upon compliance with the title issuance limit established in Article 27, § 3, item I, of Decree No. 3,859 of July 4, 2001.

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

Article 3. Resolution 3,134 of October 31, 2003, is hereby revoked.

Brasília, April 29, 2004.

Henrique de Campos Meirelles
President