Resolution CMN No. 3407 — Provisions on Renegotiation of Debts from Rural Credit Operations in the Northeast Development Agency Area

RESOLUTION NO. 003407

Dispenses on the renegotiation of debts arising from rural credit operations relative to enterprises located in the area of operation of the Northeast Development Agency (Adene).

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 an extraordinary session held on September 19, 2006, considering the provisions of Articles 4, item VI, of the aforementioned law, Articles 4 and 14 of Law No. 4,829 of November 5, 1965, Article 5 of Law No. 10,186 of February 12, 2001, and Article 18 of Law No. 11,322 of July 13, 2006,

RESOLVES:

Article 1. The renegotiation of debts from financing for working capital and investment granted until January 15, 2001, as referred to in Article 2 of Law No. 11,322 of July 13, 2006, relative to enterprises located in the area of operation of the Northeast Development Agency (Adene), must be carried out in observance of the provisions of this resolution.

Article 2. To qualify for renegotiation, the borrower must formally express their interest to the financial agent by March 30, 2007.

Article 3. It is incumbent upon financial agents:

I - to formalize, by July 31, 2007, the extensions and repactuations of the debts;

II - to provide the Ministries of Finance and National Integration with:

a) by September 30, 2007, all information regarding the contracts in question;

b) monthly, starting from November 2006, partial information on the operations already renegotiated.

Article 4. The following are not eligible for renegotiation:

I - borrowers who committed diversion of resources or who have been characterized as faithless depositaries;

II - operations extended or renegotiated under the protection of Law No. 9,138 of November 29, 1995, or Resolutions No. 2,471 of February 26, 1998, and No. 2,765 of August 10, 2000, and their amendments.

Sole Paragraph. These renegotiation conditions may be applied to borrowers of operations renegotiated based on legislation subsequent to Resolution No. 2,765 of 2000, provided there is no cumulation of the benefits now established, including discount, payment term and grace period, interest rate, and default bonus, with those obtained in previous repactuations, allowing for a new renegotiation only to complement benefits that prove more advantageous to the borrowers.

Article 5. The renegotiation of debts from financing for working capital and investment granted until December 31, 1997, relative to enterprises located in the Adene area, with a total originally contracted value of up to R$15,000.00 (fifteen thousand reais), per borrower, in one or more operations, relative to enterprises of family farmers, mini, small and medium rural producers, their cooperatives or associations, backed by resources of the Constitutional Financing Fund of the Northeast (FNE) and the Worker Protection Fund (FAT), in the case of operations classified as Rural Employment and Income Generation Program - Proger Rural equalized or other lines equalized by the National Treasury, as referred to in Article 2, item I, of Law No. 11,322 of 2006, must be carried out in observance, additionally, of the following specific conditions:

I - the borrower must:

a) deliver a declaration regarding the existence of operations renegotiated or in the process of renegotiation in other financial institutions, under the conditions established in this resolution, with a view to allowing the financial agent to comply with the fixed limits;

b) make a minimum payment of 1% (one percent) of the updated debtor balance;

II - update of the debtor balance: the debtor balance, on the date of repactuation, will be calculated based on contractual charges of normality, without any charges of default (fine, delay, and others) nor attorney fees, and will have a discount of 8.8% (eight and eight-tenths percent);

III - financial charges: effective interest rate of 3% p.a. (three percent per year), from the date of repactuation;

IV - term and repayment schedule: ten years, including two years of grace, counted from the date of repactuation, with repayment in annual, equal, and successive installments;

V - default bonus: on each installment of the amortized debt paid by the respective due date:

a) 65% (sixty-five percent), in the case of enterprises located in the Semi-Arid region, the north of Espírito Santo, and the municipalities of the north of Minas Gerais, the Jequitinhonha Valley and the Mucuri Valley, included in the area of operation of the Adene;

b) 25% (twenty-five percent), in the other areas covered by the Adene.

Sole Paragraph. Regarding the financing referred to in the caput:

I - borrowers of operations formalized by group or collective contract may benefit individually from the renegotiation if the value of the fraction of the original financing, of their responsibility, does not exceed R$15,000.00 (fifteen thousand reais);

II - in the case of operations formalized with a cooperative or association of producers, the following will be considered:

a) each subsidiary note or individual credit instrument originally signed by the final beneficiary of the credit;

b) as a limit, in the case of an operation that did not involve the transfer of resources to cooperative members or associates, the result of the division of the originally financed value by the total number of active associates of the entity at the time of contracting the financing, respecting the individual cap of R$15,000.00 (fifteen thousand reais) for inclusion in the renegotiation;

III - by December 31, 2008, borrowers who fully and prematurely liquidate the debtor balance of the operations will have an additional bonus of 10% (ten percent) on the future installments paid prematurely, to be added, when applicable, to the specific default bonus provided for in item V, caput, of this article;

IV - in financing carried out with FNE resources, the risk will be:

a) maintained entirely for the FNE, when the original operations were carried out with full risk of this fund;

b) divided between the FNE and the bank administrator of the fund, in the same proportion existing in the original operation, when the risk of the original operations is shared;

V - for operations with FAT resources, classified as Proger Rural equalized or other lines equalized by the National Treasury, the Treasury will assume the burden of the repactuation, leaving the risk of the operation with its current holder.

Article 6. The renegotiation of debts from financing for working capital and investment granted until December 31, 1997, relative to enterprises located in the Adene area, with a total originally contracted value above R$15,000.00 (fifteen thousand reais) and up to R$35,000.00 (thirty-five thousand reais), per borrower, in one or more operations, relative to enterprises of family farmers, mini, small and medium rural producers, their cooperatives or associations, backed by resources of the FNE, as referred to in Article 2, item III, of Law No. 11,322 of 2006, must be carried out in observance, additionally, of the following specific conditions:

I - to the portion of the debtor balance corresponding to the value of R$15,000.00 (fifteen thousand reais), originally agreed, the renegotiation conditions contained in Article 5 apply;

II - the portion of the debtor balance referring to the value of the original credit exceeding the limit of R$15,000.00 (fifteen thousand reais) will be updated on the date of repactuation based on contractual charges of normality, without any charges of default (fine, delay, and others) nor attorney fees;

III - the borrower must make a minimum payment of 1% (one percent) of the updated debtor balance;

IV - financial charges: effective interest rate of 3% p.a. (three percent per year), from the date of repactuation;

V - term: ten years, including two years of grace, from the repactuation.

Sole Paragraph. With reference to the financing referred to in the caput:

I - borrowers of operations formalized by group or collective contract may benefit individually from the renegotiation if the value of the fraction of the original financing, of their responsibility, does not exceed R$35,000.00 (thirty-five thousand reais);

II - in the case of operations formalized with a cooperative or association of producers, the following will be considered:

a) each subsidiary note or individual credit instrument originally signed by the final beneficiary of the credit;

b) as a limit, in the case of an operation that did not involve the transfer of resources to cooperative members or associates, the result of the division of the originally financed value by the total number of active associates of the entity at the time of contracting the financing, respecting the individual cap of R$35,000.00 (thirty-five thousand reais) for inclusion in the renegotiation;

III - by December 31, 2008, borrowers who fully and prematurely liquidate the debtor balance of the operations will have an additional bonus of 10% (ten percent) on the future installments paid prematurely, to be added, when applicable, to the specific default bonus provided for in Article 5, caput, item V;

IV - in financing carried out with FNE resources, the risk will be:

a) maintained entirely for the FNE, when the original operations were carried out with full risk of this fund;

b) divided between the FNE and the bank administrator of the fund, when the risk is shared, in the same proportion existing in the original operation.

Article 7. The renegotiation of debts from financing for working capital and investment granted until December 31, 1997, relative to enterprises located in the area of operation of the Adene, with a total originally contracted value of up to R$35,000.00 (thirty-five thousand reais), per borrower, in one or more operations, relative to enterprises of family farmers, mini, small and medium rural producers, their cooperatives or associations, backed by resources of the FAT or other sources, in operations with mixed resources from these sources and the FNE, as referred to in Article 2, § 5º, of Law No. 11,322 of 2006, must be carried out in observance, additionally, of the following specific conditions:

I - the borrower must deliver a declaration regarding the existence of operations renegotiated or in the process of renegotiation in other financial institutions, under the conditions established in this resolution, with a view to allowing the financial agent to comply with the fixed limits;

II - for operations with a value of up to R$15,000.00 (fifteen thousand reais), the conditions established in Article 5 apply;

III - for operations with a value above R$15,000.00 (fifteen thousand reais) and up to R$35,000.00 (thirty-five thousand reais):

a) for the portion of the debtor balance corresponding to the value of R$15,000.00 (fifteen thousand reais), originally agreed, the conditions established in Article 5 apply;

b) for the portion of the debtor balance referring to the value of the original credit exceeding the limit of R$15,000.00 (fifteen thousand reais), when the credit was destined to enterprises in the Northeast Region, except for the areas referred to in item IV:

1. the debtor balance will be updated on the date of repactuation based on contractual charges of normality, without discount, without charges of default, and without attorney fees;

2. the borrower must make a minimum payment of 1% (one percent) of the total updated debtor balance;

3. financial charges, from the date of repactuation: effective interest rate of 6% p.a. (six percent per year) for family farmers, mini and small rural producers, their cooperatives or associations, and 8.75% p.a. (eight and seventy-five hundredths percent per year) for other producers, their cooperatives and associations;

4. term and repayment schedule: ten years, establishing a new amortization scheme according to the borrower's payment capacity;

5. default bonus of 10% (ten percent) on the financial charges of each repactuated debt installment paid by the respective due date;

IV - for the portion of the debtor balance referring to the value of the original credit exceeding the limit of R$15,000.00 (fifteen thousand reais), when it concerns operations in the Semi-Arid region, the north of Espírito Santo, and the municipalities of the north of Minas Gerais, the Jequitinhonha Valley and the Mucuri Valley, included in the area of operation of the Adene:

a) for the portion of the debtor balance corresponding to the value of R$15,000.00 (fifteen thousand reais), originally agreed, the conditions established in Article 5 apply;

b) of borrowers who are compliant with the installments due until July 14, 2006, or who become compliant by January 10, 2007, with the payment of the installments due until July 14, 2006, the date of publication of Law No. 11,322:

1. the borrower must make a minimum payment of 1% (one percent) on the total debtor balance;

2. financial charges: effective interest rate of 3% p.a. (three percent per year), retroactive to January 1, 2002;

3. term: ten years, with the first installment due on October 31, 2007;

4. default bonus of 45% (forty-five percent) on the installment or amortized portion by the respective due date;

c) of other borrowers:

1. minimum payment of 1% (one percent) on the total debtor balance;

2. update of the debtor balance: the balance of the due and unpaid installments will be updated until the date of repactuation based on contractual charges of normality, without bonus, without charges of default, and without attorney fees, when the effective interest rate of 3% p.a. (three percent per year) begins to apply;

3. on the future installments, the effective interest rate of 3% p.a. (three percent per year) will be applied, retroactive to January 1, 2002;

4. term from the repactuation: ten years, with the first installment due on October 31, 2007;

5. default bonus of 15% (fifteen percent) on each installment or portion of the debt amortized by the respective due date.

Sole Paragraph. Regarding the financing referred to in the caput:

I - borrowers of operations formalized by group or collective contract may benefit individually from the renegotiation if the value of the fraction of the original financing, of their responsibility, does not exceed R$35,000.00 (thirty-five thousand reais);

II - in the case of operations formalized with a cooperative or association of producers, the following will be considered:

a) each subsidiary note or individual credit instrument originally signed by the final beneficiary of the credit;

b) as a limit, in the case of an operation that did not involve the transfer of resources to cooperative members or associates, the result of the division of the originally financed value by the total number of active associates of the entity at the time of contracting the financing, respecting the individual cap of R$35,000.00 (thirty-five thousand reais) for inclusion in the renegotiation;

III - by December 31, 2008, borrowers who fully and prematurely liquidate the debtor balance of the operations will have an additional bonus of 10% (ten percent) on the future installments paid prematurely, to be added, when applicable:

a) for the original portion of up to R$15,000.00 (fifteen thousand reais), to the specific default bonus provided for in Article 5, item V;

b) for the portion of the debtor balance referring to the value of the original credit exceeding the limit of R$15,000.00 (fifteen thousand reais), to the default bonus provided for in item IV, letter "b", item 4, or in letter "c", item 5, of the caput of this article, when located in the Semi-Arid region, the north of Espírito Santo, and the municipalities of the north of Minas Gerais, the Jequitinhonha Valley and the Mucuri Valley, included in the area of operation of the Adene, or to the default bonus on the financial charges provided for in item III, letter "b", item 5, of the caput of this article;

IV - in financing carried out with combined resources of the FNE with the FAT or of the FNE with other sources, the reclassification of these operations with FAT resources and these sources to the FNE is admitted, with the FNE bearing the burdens resulting from the renegotiations, and the risk of the operations renegotiated under these conditions must be:

a) maintained entirely for the FNE, when the operations were contracted with full risk of this fund;

b) divided between the FNE and the bank administrator of the fund, when the risk is shared, in the same proportion existing in the original operation;

c) full of the FNE, in the original operations carried out with resources from the FAT and other sources, acquired and reclassified to the FNE.

Article 8. The renegotiation of debts from financing for working capital and investment granted in the period from January 2, 1998, to January 15, 2001, relative to enterprises located in the area of operation of the Adene, with a total originally contracted value of up to R$15,000.00 (fifteen thousand reais), per borrower, in one or more operations, relative to enterprises of family farmers, mini, small and medium rural producers, their cooperatives or associations, granted under the National Program for Strengthening Family Agriculture (Pronaf), with resources of the FNE or equalized by the National Treasury, backed by resources of the FNE or backed by resources of the FAT, in the case of operations classified as Proger Rural equalized or other lines equalized by the National Treasury, must be carried out in observance, additionally, of the following specific conditions:

I - the borrower must deliver a declaration regarding the existence of operations renegotiated or in the process of renegotiation in other financial institutions, under the conditions established in this resolution, with a view to allowing the financial agent to comply with the fixed limits;

II - for borrowers compliant with the installments due until July 14, 2006, or who become compliant by January 10, 2007, with the payment of the installments due until July 14, 2006, the date of publication of Law No. 11,322:

a) a minimum payment of 1% (one percent) of the updated debtor balance must be made;

b) the debtor balance will be updated until January 1, 2002, based on contractual charges of normality, when it must be applied, provided it is an operation contracted with post-fixed charges, a discount of 8.8% (eight and eight-tenths percent) on the debtor balance;

c) an effective interest rate of 3% p.a. (three percent per year) will be applied, retroactive to January 1, 2002;

d) the debtor balance updated until the date of repactuation will be extended for a term of ten years, including two years of grace, and the repayment will be in annual, equal, and successive installments;

e) in the case of enterprises located in the Semi-Arid region, the north of Espírito Santo, and the municipalities of the north of Minas Gerais, the Jequitinhonha Valley and the Mucuri Valley, included in the area of operation of the Adene, a default bonus of 65% (sixty-five percent) will be granted on each portion of the debt paid by the respective due date;

III - for borrowers not included in item II:

a) the debtor balance of the due and unpaid installments will be updated until the date of repactuation, based on contractual charges of normality, without bonus and without any charges of default and without attorney fees, and applying, provided it is an operation contracted with post-fixed charges, a discount of 8.2% (eight and two-tenths percent) on the debtor balance on the date of repactuation, when the effective interest rate of 3% p.a. (three percent per year) begins to apply;

b) on the balance corresponding to the future installments, a discount of 8.8% (eight and eight-tenths percent) on the debtor balance will be granted, in the position of January 1, 2002, provided it is an operation contracted with post-fixed charges, when the effective interest rate of 3% p.a. (three percent per year) begins to apply from that date;

c) the debtor balance updated on the date of repactuation, obtained in the manner of letters "a" and "b", will be extended for a term of ten years, including two years of grace, and the repayment will be in annual, equal, and successive installments;

d) in the case of enterprises located in the Semi-Arid region, the north of Espírito Santo, and the municipalities of the north of Minas Gerais, the Jequitinhonha Valley and the Mucuri Valley, included in the area of operation of the Adene, a default bonus of 35% (thirty-five percent) will be granted on each portion of the debt paid by the respective due date.

Sole Paragraph. Regarding the financing referred to in the caput:

I - borrowers of operations formalized by group or collective contract may benefit individually from the renegotiation if the value of the fraction of the original financing, of their responsibility, does not exceed R$15,000.00 (fifteen thousand reais);

II - in the case of operations formalized with a cooperative or association of producers, the following will be considered:

a) each subsidiary note or individual credit instrument originally executed by the final credit beneficiary;

b) as a limit, in the case of an operation that did not involve the transfer of resources to members or associates, the result of the division of the originally financed value by the total number of active members of the entity at the time of the financing contract, respecting the individual cap of R$15,000.00 (fifteen thousand reais) for eligibility in the renegotiation;

III - until December 31, 2008, borrowers who fully and prematurely settle the outstanding balance of the operations will receive an additional bonus of 10% (ten percent) on the installments paid in advance, to be added, where applicable, to the specific compliance bonus provided for in item II, letter "e", or item III, letter "d", of the main paragraph of this article;

IV - in financings carried out with resources from the FNE, the risk will be:

a) maintained entirely for the FNE, when the original operations were carried out with full risk of this fund;

b) divided between the FNE and the bank administering the fund, when the risk is shared, in the same proportion existing in the original operation;

V - in operations of the Pronaf equalized by the National Treasury, and in operations with resources from the FAT, classified as Proger Rural equalized or other rural credit lines equalized by the National Treasury, the Treasury will assume the burden of repactuation, in the form of economic subsidy governed by Law 8,427, of May 27, 1992, with the risk of the operation remaining with its current holder.

Art. 9. The renegotiation of debts of cost and investment financings granted in the period from January 2, 1998, to January 15, 2001, relating to enterprises located in the area of operation of the Adene, with a total originally contracted value above R$15,000.00 (fifteen thousand reais) and up to R$35,000.00 (thirty-five thousand reais), per borrower, in one or more operations, relating to enterprises of family farmers, mini, small, and medium rural producers, their cooperatives or associations, backed by resources from the FNE, as provided for in Article 2, item III, of Law 11,322, of 2006, must be carried out with observance, additionally, of the following special conditions:

I - to the portion of the outstanding balance corresponding to the value of R$15,000.00 (fifteen thousand reais), originally agreed, the renegotiation conditions contained in Article 8, main paragraph, items II or III apply;

II - for the portion of the outstanding balance referring to the value of the original credit exceeding the limit of R$15,000.00 (fifteen thousand reais):

a) the outstanding balance will be updated on the date of repactuation based on normal contractual charges, without any default charges (fine, interest, and others) nor attorney's fees;

b) the borrower must make a minimum payment of 1% (one percent) of the total updated outstanding balance;

III - financial charges: effective interest rate of 3% p.a. (three percent per year), from the date of repactuation;

IV - term: ten years, including two years of grace period, from the repactuation.

Sole paragraph. With reference to the financings provided for in the main paragraph:

I - borrowers of operations formalized by group or collective contract may individually benefit from the renegotiation if the value of the fraction of the original financing, of their responsibility, does not exceed R$35,000.00 (thirty-five thousand reais);

II - in the case of operations formalized with a cooperative or producers' association, the following will be considered:

a) each subsidiary note or individual credit instrument originally executed by the final credit beneficiary;

b) as a limit, in the case of an operation that did not involve the transfer of resources to members or associates, the result of the division of the originally financed value by the total number of active members of the entity at the time of the financing contract, respecting the individual cap of R$35,000.00 (thirty-five thousand reais) for eligibility in the renegotiation;

III - until December 31, 2008, borrowers who fully and prematurely settle the outstanding balance of the operations will receive an additional bonus of 10% (ten percent) on the installments paid in advance, to be added, where applicable, to the compliance bonus provided for in Article 8, main paragraph, item II, letter "e", or item III, letter "d";

IV - in financings carried out with resources from the FNE, the risk will be:

a) maintained entirely for the FNE, when the original operations were carried out with full risk of this fund;

b) divided between the FNE and the bank administering the fund, when the risk is shared, in the same proportion existing in the original operation.

Art. 10. The renegotiation of debts of cost and investment financings granted in the period from January 2, 1998, to January 15, 2001, relating to enterprises located in the area of operation of the Adene, with a total originally contracted value up to R$35,000.00 (thirty-five thousand reais), per borrower, in one or more operations, relating to enterprises of family farmers, mini, small, and medium rural producers, their cooperatives or associations, backed by resources from the FAT or other sources, in operations with mixed resources from these sources and the FNE, as provided for in Article 2, § 5, of Law 11,322, of 2006, must be carried out with observance, additionally, of the following specific conditions:

I - the borrower must deliver a declaration regarding the existence of renegotiated operations or operations in the process of renegotiation at other financial institutions, under the conditions established in this resolution, with a view to allowing the financial agent to comply with the established limits;

II - for operations with a value up to R$15,000.00 (fifteen thousand reais), the conditions established in Article 8, items II or III apply;

III - for operations with a value above R$15,000.00 (fifteen thousand reais) and up to R$35,000.00 (thirty-five thousand reais):

a) for the portion of the outstanding balance corresponding to the value of R$15,000.00 (fifteen thousand reais), originally agreed, the conditions established in Article 8, main paragraph, items II or III apply;

b) for the portion of the outstanding balance referring to the value of the original credit exceeding the limit of R$15,000.00 (fifteen thousand reais), when the credit was destined for enterprises in the Northeast Region, excluding the areas provided for in item IV:

1. the outstanding balance will be updated on the date of repactuation based on normal contractual charges, without rebate, without default charges, and without attorney's fees;

2. the borrower must make a minimum payment of 1% (one percent) of the total updated outstanding balance;

3. financial charges, from the date of repactuation: effective interest rate of 6% p.a. (six percent per year) for family farmers, mini, and small rural producers, their cooperatives or associations, and 8.75% p.a. (eight and seventy-five hundredths percent per year) for other producers, their cooperatives, and associations;

4. term and repayment schedule: ten years, establishing a new amortization scheme according to the borrower's payment capacity;

5. compliance bonus of 10% (ten percent) on the financial charges of each repactuated debt installment amortized until the respective due date;

IV - for the portion of the outstanding balance referring to the value of the original credit exceeding the limit of R$15,000.00 (fifteen thousand reais), when it concerns operations in the Semi-Arid Region, the north of Espírito Santo, and the municipalities of the north of Minas Gerais, the Jequitinhonha Valley, and the Mucuri Valley, included in the area of operation of the Adene:

a) for the portion of the outstanding balance corresponding to the value of R$15,000.00 (fifteen thousand reais), originally agreed, the conditions established in Article 8, main paragraph, items II or III apply;

b) of compliant borrowers with the due installments until July 14, 2006, or who become compliant until January 10, 2007, with the payment of the installments due until July 14, 2006, the date of publication of Law 11,322:

1. the borrower must make a minimum payment of 1% (one percent) on the total outstanding balance;

2. financial charges: effective interest rate of 3% p.a. (three percent per year), retroactive to January 1, 2002;

3. term: ten years, with the first installment due on October 31, 2007;

4. compliance bonus of 45% (forty-five percent) on the installment or amortized parcel until the respective due date;

c) of other borrowers:

1. minimum payment of 1% (one percent) on the total outstanding balance;

2. update of the outstanding balance: the balance of the due and unpaid installments will be updated until the date of repactuation based on normal contractual charges, without bonus, without default charges, and without attorney's fees, when the effective interest rate of 3% p.a. (three percent per year) will be applied;

3. on the due installments, the effective interest rate of 3% p.a. (three percent per year) will be applied, retroactive to January 1, 2002;

4. term from the repactuation: ten years, with the first installment due on October 31, 2007;

5. compliance bonus: 15% (fifteen percent) on each installment or parcel of the debt amortized until the respective due date.

Sole paragraph. With regard to the financings provided for in the main paragraph:

I - borrowers of operations formalized by group or collective contract may individually benefit from the renegotiation if the value of the fraction of the original financing, of their responsibility, does not exceed R$35,000.00 (thirty-five thousand reais);

II - in the case of operations formalized with a cooperative or producers' association, the following will be considered:

a) each subsidiary note or individual credit instrument originally executed by the final credit beneficiary;

b) as a limit, in the case of an operation that did not involve the transfer of resources to members or associates, the result of the division of the originally financed value by the total number of active members of the entity at the time of the financing contract, respecting the individual cap of R$35,000.00 (thirty-five thousand reais) for eligibility in the renegotiation;

III - until December 31, 2008, borrowers who fully and prematurely settle the outstanding balance of the operations will receive an additional bonus of 10% (ten percent) on the installments paid in advance, to be added, where applicable:

a) for the original portion up to R$15,000.00 (fifteen thousand reais), to the compliance bonus provided for in Article 8, main paragraph, item II, letter "e", or item III, letter "d";

b) for the portion of the outstanding balance referring to the value of the original credit exceeding the limit of R$15,000.00 (fifteen thousand reais), to the compliance bonus provided for in item IV, letter "b", item 4, or letter "c", item 5, of the main paragraph of this article, when located in the Semi-Arid Region, the north of Espírito Santo, and the municipalities of the north of Minas Gerais, the Jequitinhonha Valley, and the Mucuri Valley, included in the area of operation of the Adene, or to the compliance bonus on financial charges provided for in item III, letter "b", item 5, of the main paragraph of this article;

IV - in financings carried out with combined resources of the FNE with the FAT or of the FNE with other sources, the reclassification of these operations to the FNE is admitted, and the risk of the renegotiated operations under these conditions must be:

a) maintained entirely for the FNE, when the operations were contracted with full risk of this fund;

b) divided between the FNE and the bank administering the fund, when the risk is shared, in the same proportion existing in the original operation;

c) full FNE, in original operations carried out with resources from the FAT and other sources, acquired and reclassified to the FNE.

Art. 11. In the formalization of the renegotiations provided for in this resolution, the provisions of Resolution 2,682, of December 21, 1999, regarding the classification of these operations must be observed.

Art. 12. Financial agents are:

I - authorized to suspend the collection or judicial execution of the debts, from the date on which the borrowers express interest in the extension or repactuation, as provided for in this resolution;

II - obligated to suspend the execution of the debts and to withdraw, if applicable, any actions filed against the respective borrowers, after the renegotiation relating to these debts in collection has been duly formalized, in exchange for the simultaneous withdrawal of the borrowers of any actions filed against the financial agent regarding these operations.

Art. 13. The collection of operations ceded to the Union in accordance with Provisional Measure 2,196-3, of August 24, 2001, which have been registered in the Active Debt of the Union, will not be suspended.

Art. 14. This resolution enters into force on the date of its publication.

Brasília, September 27, 2006.

Henrique de Campos Meirelles
President