Resolution CMN No. 3751 — Defines safeguard procedures for financial institutions regarding compliance with Article 33 of Complementary Law No. 101/2000 and procedures to verify credit operation limits

RESOLUTION NO. 003751

Defines safeguard procedures for financial institutions in view of the provisions of Article 33 of Complementary Law No. 101, of May 4, 2000, as well as procedures to require proof of compliance with limits and conditions for the contracting of credit operations.

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 and VIII, of the aforementioned law,

RESOLVES:

Article 1. Financial institutions and other institutions authorized by the Central Bank of Brazil that operate with bodies and entities of the public sector must, in observance of Article 33 of Complementary Law No. 101, of May 4, 2000, require proof of compliance with the limits and conditions for contracting credit operations with the States, the Federal District, and the Municipalities, including their funds, autarchies, foundations, and dependent state-owned companies.

§ 1. For the purposes of the provision in the caput, institutions authorized to operate with the public sector must, in the manner established by the National Treasury Secretariat, centralize the receipt of all documents necessary for the complete verification of the limits and conditions defined by law and other normative acts, in accordance with Article 32 of Complementary Law No. 101, of 2000.

§ 2. A firm proposal for the credit operation will only be issued if the following requirements are met:

I - the complete documentary instruction of the request in the form and scope regulated by the Ministry of Finance, according to the competence conferred by Resolution No. 43, of December 21, 2001, of the Federal Senate; and

II - the classification of the requested operation within the limits or credit contingency rules for the public sector, in accordance with resolutions of the National Monetary Council.

§ 3. The institution authorized to operate with the public sector shall be responsible for forwarding to the Ministry of Finance the request for verification of limits and conditions to contract the internal credit operation.

§ 4. The formalization of contractual instruments will only be effective after:

I - the statement of the National Treasury Secretariat, an agency of the Ministry of Finance, regarding the verification of limits and conditions related to the realization of credit operations, in accordance with Article 32 of Complementary Law No. 101, of 2000;

II - the verification of the interested party's compliance with financial institutions and other institutions authorized to operate by the Central Bank of Brazil, as well as the non-existence of registration pending items in the System for Recording Operations with the Public Sector (Cadip), in accordance with Article 7 of Resolution of the National Monetary Council No. 2,827, of March 30, 2001, and Article 16 of Resolution No. 43, of 2001, of the Federal Senate;

III - the verification of compliance in accordance with item VIII of Article 21 of Resolution No. 43, of 2001, of the Federal Senate; and

IV - the delivery of an updated legal opinion from the contracting party regarding compliance with the legal requirements applicable to the credit operation.

Article 2. A firm proposal issued without the complete verification of the documentary instruction in accordance with Article 1 shall have no validity, and the request must be returned to the financial institution so that it may be instructed again.

Sole Paragraph. The National Treasury Secretariat shall inform the Central Bank of Brazil of the issuance of a firm proposal in disagreement with the terms established in this Resolution.

Article 3. This Resolution enters into force on the date of its publication.

Brasília, June 30, 2009.

Henrique de Campos Meirelles
President