Resolution CMN No. 3775 — Provisions on the Good Performance Bonus in Investment Credit Operations of PronAF Group "C"

RESOLUTION NO. 003775

Dispenses on the good performance bonus in investment credit operations of PronAF Group "C".

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 August 26, 2009, considering the provisions of Article 4, item VI, of Law No. 4,595, of 1964, Articles 4 and 14 of Law No. 4,829, of November 5, 1965, and Articles 13 and 18 of Law No. 11,322, of July 13, 2006,

RESOLVES:

Article 1. Investment operations of Group "C" of
PronAF contracted in a group or collective manner, when individualized, must maintain, in each of the individualized contracts, the good performance bonus per borrower provided for in the original contract, distributed proportionally across each future installment of the financing, provided that the other conditions established are met.

§ 1. The good performance bonus will be extended to individualized operations prior to the date of publication of this Resolution, provided that the other contractual conditions are met.

§ 2. The good performance bonus will be limited to the value of the contractual bonus per beneficiary of the original operation and may not exceed the value of the outstanding balance "in force" of each borrower.

Article 2. Investment operations of Group "C" of
PronAF contracted by June 30, 2004, without the provision of the good performance bonus of R$700.00 (seven hundred reais) per borrower, may be benefited by the aforementioned bonus, distributed in a proportional manner across each future installment of the financing, provided that paid until the date of its respective due date.

Sole paragraph. The bonus referred to in the main text will be limited to the value of the outstanding balance "in force" of each borrower.

Article 3. Credit operations for investment of Group
"C" of PronAF individualized that fall under Article 15 of Law No. 11,775, of September 17, 2008, provided that they are not yet recorded as losses, may be liquidated or renegotiated based on Resolution No. 3,754, of June 30, 2009.

Sole paragraph. In the event of liquidation of the operation or of
part of the debt corresponding to the individualization, it is not necessary to
formalize the renegotiation, with the financial institution excluding the debtor who paid their share of the debt from the responsibility for paying the remaining balance of the original debt not individualized.

Article 4. Financial institutions are authorized, at
their discretion, to carry out the individualization of group and collective investment operations of Group "C" of PronAF.

Article 5. This resolution enters into force on the date of its
publication.

Brasília, August 26, 2009.

Antonio Gustavo Matos do Vale
President, substitute