Resolution CMN No. 3749 — Establishes criteria for the classification of rural credit operations subject to renegotiation

RESOLUTION NO. 003749

Establishes criteria for the classification of rural credit operations subject to renegotiation.

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 June 30, 2009, based on Article 4, items VI, XI, and XII, of the aforementioned law, and on Articles 4 and 14 of Law No. 4,829, of November 5, 1965,

RESOLVES:

Art. 1. For rural credit operations subject to renegotiation under the auspices of decisions of the National Monetary Council, the following are permitted in relation to the rules provided in Resolution No. 2,682, of December 21, 1999:

I - classification in a lower risk category, as provided in its Article 3, without considering the existence of other operations of a diverse nature classified in a higher risk category;

II - observance of the provisions of its Article 8, whereby the institution, in compliance with consistent criteria and provided for in that resolution, may reclassify the operation to a lower risk category.

§ 1. Renegotiation is considered to be the composition of debt, extension, novation, granting of a new operation for partial or full settlement of a previous operation, or any other type of agreement that implies alteration in the original maturity dates or payment conditions originally agreed upon.

§ 2. The provisions of the caput apply only if the debtor remains in regular agropecuary production activity.

Art. 2. The provisions of Article 1 also apply to rural credit operations carried out with resources from the Constitutional Financing Fund of the Center-West (FCO) and the Worker's Protection Fund (FAT), covered by authorizations for refinancing, renegotiation, or specific extensions of their respective Management Bodies or Councils, provided that the aforementioned operations are carried out with the risk of financial agents.

Art. 3. This resolution enters into force on the date of its publication.

Art. 4. Resolution No. 3,499, of September 27, 2007, is hereby revoked.

Brasília, June 30, 2009.

Henrique de Campos Meirelles
President