Resolution CMN No. 4,920 Defines Financial Charges for Financing with Resources from Constitutional Financing Funds and Adjusts Rules for Calculating Rural Interest Rates

Resolution No. 4,920

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

RESOLUTION CMN NO. 4,920, OF JUNE 24, 2021

Defines the financial charges for financing with resources from the Constitutional Financing Funds, as provided for in Section 8 of Chapter 7 (Financial Charges and Credit Limits), and adjusts the rules of Section 4-A (Methodology for calculating the Rural Interest Rates of the Constitutional Financing Funds – TRFC) of Chapter 2 (Basic Conditions) of the Rural Credit Manual.

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 24, 2021, 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 Article 1 of Law No. 10,177, of January 12, 2001,

R E S O L V E S:

Article 1. Section 4-A
(Methodology for calculating the Rural Interest Rates of the Constitutional Financing Funds – TRFC) of Chapter 2 (Basic Conditions) of the Rural Credit Manual (MCR) shall enter into force with the following alterations:

“4 - ...................................................................................................................

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e) .....................................................................................................................

I - eighty-five hundredths for rural producers and their production cooperatives with annual gross revenue of up to R$16,000,000.00 (sixteen million reais), provided that the debt installment is paid by the date of its respective due date;

II - ninety hundredths for rural producers and their production cooperatives with annual gross revenue above R$16,000,000.00 (sixteen million reais) up to R$90,000,000.00 (ninety million reais), provided that the debt installment is paid by the date of its respective due date;

III - ninety-five hundredths for rural producers and their production cooperatives with annual gross revenue above R$90,000,000.00 (ninety million reais), provided that the debt installment is paid by the date of its respective due date; and

IV - one whole, in other cases;

.........................................................................................................................

i) Jm corresponds to the fixed interest rate calculated and published in the month of May, in accordance with Articles 2 and 5 of Resolution No. 4,600, of September 25, 2017, and shall be valid from July 1 to June 30 of the following year; and

................................................................................................................” (NR)

“12 - ...........................................................................................................

Type of Operation	Annual Gross Revenue	Program Factors
Investment, including working capital or associated working capital	Up to R$16 million	0.3855082
From R$16 to R$90 million	0.5273489
Above R$90 million	0.6655530
Working capital or working capital and commercialization	Up to R$16 million	0.4291508
From R$16 to R$90 million	0.5855414
Above R$90 million	0.7382884
Forestry operations intended for financing projects for conservation and protection of the environment, recovery of degraded or altered areas, recovery of native vegetation and development of sustainable activities, and for financing projects for technological innovation on rural properties and for expansion, modernization, reform and construction of new warehouses	Any value	0.1963920	” (NR)

Article 2. Section 8 (Constitutional Financing Funds)
of Chapter 7 (Financial Charges and Credit Limits) of the MCR shall enter into force with the following alterations:

“Table 1: Financial Charges for Rural Financing with Resources from Constitutional Financing Funds, contracted in the period from 1/7/2021 to 6/30/2022
Fund / Purpose	Annual Gross Revenue	Program Factor (FP)	Rural Credit Interest Rates (up to % p.a.)
Fixed	Fixed with Bonus	Post-fixed (*)	Post-fixed with Bonus
Constitutional Fund of the Center-West – FCO
1 - Investment, including working capital or associated working capital	up to R$16.0 million	0.3855082	6.09	5.90	1.23 + FAM	1.05 + FAM
From R$16.0 to R$90 million	0.5273489	6.56	6.39	1.68 + FAM	1.51 + FAM
above R$90 million	0.6655530	7.03	6.91	2.12 + FAM	2.02 + FAM
2 - Working capital or working capital and commercialization	up to R$16.0 million	0.4291508	6.23	6.02	-	-
From R$16.0 to R$90 million	0.5855414	6.76	6.56	-	-
above R$90 million	0.7382884	7.27	7.14	-	-
3 - Forestry operations intended for financing projects for conservation and protection of the environment, recovery of degraded or altered areas, recovery of native vegetation and development of sustainable activities, and for financing projects for technological innovation on rural properties and for expansion, modernization, reform and construction of new warehouses	Not applicable	0.1963920	5.46	5.36	0.63 + FAM	0.53 + FAM
Constitutional Fund of the Northeast – FNE
1 - Investment, including working capital or associated working capital	up to R$16.0 million	0.3855082	5.65	5.52	0.81 + FAM	0.69 + FAM
From R$16.0 to R$90 million	0.5273489	5.96	5.85	1.11 + FAM	1.00 + FAM
above R$90 million	0.6655530	6.27	6.20	1.40 + FAM	1.33 + FAM
2 - Working capital or working capital and commercialization	up to R$16.0 million	0.4291508	5.75	5.60	-	-
From R$16.0 to R$90 million	0.5855414	6.09	5.96	-	-
above R$90 million	0.7382884	6.43	6.35	-	-
3 - Forestry operations intended for financing projects for conservation and protection of the environment, recovery of degraded or altered areas, recovery of native vegetation and development of sustainable activities, and for financing projects for technological innovation on rural properties and for expansion, modernization, reform and construction of new warehouses	Not applicable	0.1963920	5.23	5.17	0.41 + FAM	0.35 + FAM
Constitutional Fund of the North – FNO
1 - Investment, including working capital or associated working capital	up to R$16.0 million	0.3855082	5.66	5.53	0.82 + FAM	0.70 + FAM
From R$16.0 to R$90 million	0.5273489	5.98	5.86	1.13 + FAM	1.01 + FAM
above R$90 million	0.6655530	6.29	6.22	1.42 + FAM	1.35 + FAM
2 - Working capital or working capital and commercialization	up to R$16.0 million	0.4291508	5.76	5.62	-	-
From R$16.0 to R$90 million	0.5855414	6.11	5.98	-	-
above R$90 million	0.7382884	6.45	6.37	-	-
3 - Forestry operations intended for financing projects for conservation and protection of the environment, recovery of degraded or altered areas, recovery of native vegetation and development of sustainable activities, and for financing projects for technological innovation on rural properties and for expansion, modernization, reform and construction of new warehouses	Not applicable	0.1963920	5.24	5.17	0.42 + FAM	0.36 + FAM

(*) Post-fixed rate composed of a fixed part, plus the Monetary Adjustment Factor (FAM).” (NR)

Article 3. This Resolution
enters into force on July 1, 2021.

Roberto de Oliveira Campos
Neto
President of the Central Bank of Brazil