Resolution CMN No. 4,906 — Exceptionally Raises Working Credit Limits for Corn and Sorghum Production for the 2021/2022 Agricultural Year and Authorizes FGPP Financing for Their Acquisition

The resolution temporarily increases the rural working credit limit to BRL 4,000,000 for corn, sorghum, and specific confined livestock activities, and to BRL 1,750,000 for Pronamp financing for the same purposes, effective from July 1, 2021, to June 30, 2022. It also authorizes the use of mandatory resources for Producer Price Guarantee Financing (FGPP) for corn and sorghum storage, allowing credit limits up to BRL 65,000,000 per beneficiary with a repayment period of up to 180 days. Beneficiaries may use up to BRL 2,000,000 per producer for financing verification, subject to specific documentation and independence rules regarding other controlled resource operations.

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Resolution No. 4,906

The current text of the MCR can be found at the following electronic address: www3.bcb.gov.br/mcr.

RESOLUTION
CMN No. 4,906, OF APRIL 29, 2021

Exceptionally raises, for the 2021/2022 agricultural year, the working credit limit for corn and sorghum production and authorizes Producer Price Guarantee Financing (FGPP) backed by Mandatory Resources, when intended for the acquisition of corn and sorghum.

The Central Bank of Brazil, in accordance with art. 9 of Law No. 4,595, of December 31, 1964, makes public that the National Monetary Council, in a session held on April 29, 2021, in accordance with arts. 4, item VI, of Law No. 4,595, of 1964, and 4 and 14 of Law No. 4,829, of November 5, 1965,

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This document amends: Resolution CMN No. 4,883 — Consolidation of Provisions in Chapters 1, 2 and 3 of the Rural Credit Manual (MCR) Regarding Principles, Basic Concepts and Operations Applicable to Rural Credit

Source: Banco Central do Brasil — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works