Resolution CMN No. 5,025 — Defines Financial Charges and Credit Limits for Credit Lines and Programs and Adjusts Rules for Rural Credit Interest Rate Calculation Methodology

The current text of the MCR is available at the following electronic address: www3.bcb.gov.br/mcr.

RESOLUTION CMN NO. 5,025, OF JUNE 29, 2022

Defines the financial charges and credit limits for the Credit Lines and Programs referred to in Chapter 7 (Financial Charges and Credit Limits) and adjusts the rules of Section 4 (Methodology for calculating the Rural Credit Interest Rates – TCR) of Chapter 2 (Basic Conditions) of the Rural Credit Manual (MCR).

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 an extraordinary session held on June 29, 2022, 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, the sole paragraph of Article 4 of Decree No. 94,874, of September 15, 1987, Article 6 of Law No. 10,186, of February 12, 2001, and paragraphs 3 and 4 of Article 3 of Law No. 11,326, of July 24, 2006,

R E S O L V E S:

Art. 1 Section 4 (Methodology for calculating the Rural Credit Interest Rates – TCR) of Chapter 2 (Basic Conditions) of the Rural Credit Manual (MCR) shall be amended as follows:

“18

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a) effective interest rate of 5.00% p.a.: -0.1424450;

b) effective interest rate of 6.00% p.a.: 0.0312684;

c) effective interest rate of 7.00% p.a.: 0.2049818;

d) effective interest rate of 8.00% p.a.: 0.3786952;

e) effective interest rate of 8.50% p.a.: 0.4655519;

f) effective interest rate of 10.50% p.a.: 0.8129788;

g) effective interest rate of 11.50% p.a.: 0.9866922;

h) effective interest rate of 12.00% p.a.: 1.0735489;

i) effective interest rate of 12.50% p.a.: 1.1604056.” (NR)

Art. 2 Section 1 (Financing without Linkage to Specific Program) of Chapter 7 (Financial Charges and Credit Limits) of the MCR shall be amended as follows:

						---	---	---	---		“Table 1: Financial Charges for Financing without Linkage to Specific Program					Purpose / Beneficiary	Effective interest rate up to (% p.a.)		Additional Conditions		Fixed	Post-fixed (*)		Working Capital Credits (MCR 3-2), Investment Credits (MCR 3-3), Marketing Credits (MCR 3-4), Industrialization Credits (MCR 3-5)					1 - Working Capital Credits (MCR 3-2), Marketing Credits (MCR 3-4), inclusive when covered by the Special Financing for Storage of Agricultural Products - FEE (MCR 3-4-11), and Industrialization Credits (MCR 3-5), with Mandatory Resources (MCR 6-2) or when subsidized by the Union in the form of financial charge equalization	12.00%	-	-		2 - Investment Credits (MCR 3-3), when subsidized by the Union in the form of financial charge equalization	10.50%	4.42% + FAM	a) the post-fixed interest rate does not apply to financing with Rural Savings resources (MCR 6-4).		3 - Rural investment credit under the same conditions applicable to Programs with BNDES Resources (MCR 11), for all beneficiaries, in operations subsidized by the Union in the form of financial charge equalization	current financial charges for Programs with BNDES Resources (MCR 7-7)	current financial charges for Programs with BNDES Resources (MCR 7-7)	-		4 - all purposes, in rural credit operations with non-controlled resources	-	-	a) financial charges freely agreed upon by the parties, observing that, in the case of Rural Savings resources, the following shall be used as a basis: I - the basic remuneration applicable to savings deposits with an anniversary date on the day of signing the respective contract, plus an effective interest rate; or II - fixed effective interest rate.	(*) Post-fixed interest rate composed of a fixed part plus the Monetary Update Factor (FAM).” (NR) “Table 2: Credit Limits for Financing without Linkage to Specific Program
Purpose / Beneficiary	Value	Additional Conditions
Working Capital Credits (MCR 3-2)
1 - all beneficiaries	R$3,000,000.00	a) limit with controlled resources, per beneficiary, in each agricultural year and throughout the National Rural Credit System (SNCR); b) rural working capital credits granted with resources: I - from regional financing constitutional funds; II - raised through the issuance of Agribusiness Credit Letter (MCR 6-7) are not included in the calculation of the limit referred to in item “a”.
2 - poultry, swine, aquaculture, and fishery farming operated under integration regime: exclusively with Mandatory Resources (MCR 6-2)	R$400,000,000.00	a) credit limit per integrator that is not classified as an agricultural production cooperative, per agricultural year and throughout the SNCR; b) a credit limit of R$240,000.00 (two hundred and forty thousand reais) per integrated rural producer, per agricultural year, per activity and throughout the SNCR must be observed; c) the amount contracted in accordance with item “b” impacts the limit referred to in item 1 and the credit limit of the National Program for Support to Medium Rural Producers - Pronamp (MCR 7-4).
Investment Credits (MCR 3-3)
1 - all beneficiaries, in operations with Mandatory Resources (MCR 6-2)	-	a) the use of Mandatory Resources for the contracting of investment operations is prohibited, except as provided in specific regulations.
2 - all beneficiaries for rural investment credit under the same conditions applicable to Programs with BNDES Resources (MCR 11) in operations subsidized by the Union in the form of financial charge equalization.	the current limits for Programs with BNDES Resources (MCR 7-7)	a) observing MCR 3-3-12.
3 - all beneficiaries, in operations with resources subsidized by the Union in the form of financial charge equalization	R$1,000,000.00	a) limit per beneficiary and per agricultural year
Marketing Credits (MCR 3-4)
1 - Special Financing for Storage of Agricultural Products (FEE) and for discounting Rural Promissory Note (DR) and Rural Promissory Note (NPR) with Controlled Resources (MCR 6-1)	R$4,500,000.00	a) credit limit per borrower, cumulatively, in each agricultural year and throughout the SNCR, excluding marketing credits granted with resources from regional financing constitutional funds; b) the beneficiary may contract FEE for more than one product, provided that the limit per producer for each agricultural year is respected.
2 - FEE intended for seeds with Controlled Resources	R$25,000,000.00	a) limit per beneficiary, per agricultural year and throughout the SNCR; b) the financing amount cannot exceed 80% (eighty percent) of the quantity identified in the conformity term or seed certificate.
3 - Financing for processing and distribution of corn seeds, inspected or certified for seed producers (individuals and legal entities), according to MCR 4-2-11, with Controlled Resources	R$6,000,000.00	a) limit per beneficiary and agricultural year.
4 - Financing for Producer Price Guarantee (FGPP)	none	a) the use of Mandatory Resources for the contracting of FGPP operations is prohibited, except as provided in specific regulations of this Manual.
5 - Financing for Price Protection in Futures and Options Market Operations with Controlled Resources (MCR 6-1):
I - rural producer	R$100,000.00	a) 100% (one hundred percent) of the value required in national commodity and futures exchanges, for the margin/daily adjustments account of the futures market, as well as for the value of premiums in the options market or over-the-counter market; b) respecting the maximum product quantities provided in MCR 4-5-1-“c”; c) regardless of other limits established for marketing credits.
II - agricultural production cooperative	R$40,000.00 multiplied by the number of active members
Industrialization Credits (MCR 3-5)
1 - rural producer for industrialization of agricultural products on their rural property	R$1,500,000.00	a) at least 50% (fifty percent) of the production to be processed or processed must be from the rural producer's own production, from the production cooperative or from members; b) limit per beneficiary, per agricultural year and throughout the SNCR, excluding industrialization credits granted with resources from regional financing constitutional funds; c) according to Table 2 - Limits for Credits to Agricultural Production Cooperatives of the Section Credits to Agricultural Production Cooperatives (MCR 7-3).
2 - agricultural production cooperatives	R$400,000,000.00

”
(NR)

Art. 3 Section 3 (Credits to Agricultural Production Cooperatives) of Chapter 7 (Financial Charges and Credit Limits) of the MCR shall be amended as follows:

“Table 1: Financial Charges for Credits to Agricultural Production Cooperatives (MCR 5)
Purpose / Beneficiary	Effective interest rate up to (% p.a.)
General and Marketing Credit (MCR 5-1)	11.50%
Service to Members (MCR 5-2)	11.50%
Capitalization of Partnership Shares (MCR 5-3)	11.50%
Retention Rate (MCR 5-4)	11.50%
Industrialization (MCR 5-5)	11.50%

” (NR)

“Table 2: Limits for Credits to Agricultural Production Cooperatives (MCR 5)
Purpose / Beneficiary	Value	Additional Conditions
General Provisions (MCR 5-1)
1 - General with Controlled Resources (MCR 6-1)	R$800,000,000.00	a) the credit limits granted to the same agricultural production cooperative under the Chapter Credits to Agricultural Production Cooperatives, unless otherwise specifically defined, refer to the sum of all financings with Controlled Resources, throughout the National Rural Credit System (SNCR), per agricultural year; b) financings granted with resources: I - from the National Bank for Economic and Social Development (BNDES); II - from regional financing constitutional funds; and III - from the Coffee Economy Defense Fund (Funcafé) are not computed for this limit.
2 - Marketing (MCR 5-1-2-“b”-III): Rural Promissory Note (DR), Rural Promissory Note (NPR), Producer Price Guarantee Financing (FGPP) and Coffee Acquisition Financing (FAC)	R$40,000,000.00	a) this limit considers the sum of the value of credits taken for the purposes of this item; b) in the granting of credits in the FGPP and FAC modalities, the following limits must be observed, among others: I - 50% (fifty percent) of the annual capacity of the cooperative's processing or industrialization unit; II - acquisition limit per producer established in the general regulations regarding these financings.
3 - Marketing (MCR 5-1-2-“b”-III): Futures and Options Market Operations	R$40,000.00 multiplied by the number of active members	a) 100% (one hundred percent) of the value required in national commodity and futures exchanges, for the margin/daily adjustments account of the futures market, as well as for the value of premiums in the options market or Over-the-Counter Market; b) respecting the maximum product quantities provided in MCR 4-5-1-“c”.
Service to Members (MCR 5-2)
1 - marketing credit: advances to members for products delivered to the cooperative for sale	R$500,000.00	a) must comply with the inflow flow of products into the cooperative, according to the cycle of the members' activities; b) limit per member, in the agricultural year and throughout the SNCR.
2 - working capital credit for acquisition of inputs for supply to members, for poultry, swine, aquaculture and fishery farming activities under integration regime	R$500,000.00	a) limit per member, in the agricultural year and throughout the SNCR.
3 - working capital credit for acquisition of inputs for supply to members, for other activities	R$500,000.00
4 - investment credit for acquisition of goods for supply to members, for use in agricultural production activity, such as machinery, implements, agricultural utensils, animals, and inputs intended for intensive soil correction and other goods eligible for investment credit	R$50,000.00	a) limit per member, in the agricultural year and throughout the SNCR.
5 - investment credit for acquisition of goods for provision of services exclusively in rural exploitations, such as machinery, implements, agricultural utensils and pure or high-lineage male breeders and other goods eligible for investment credit.	R$40,000,000.00	a) limit per agricultural year, respecting the ceiling of R$20,000.00 per active member.
Capitalization of Partnership Shares (MCR 5-3)	R$800,000,000.00	a) respecting the general limit provided in item 1 of the General Provisions of this table.
Retention Rate (MCR 5-4)	R$800,000,000.00	a) respecting the general limit provided in item 1 of the General Provisions of this table.
Industrialization (MCR 5-5)	R$400,000,000.00	a) per agricultural year and throughout the SNCR; b) respecting the general limit provided in item 1 of the General Provisions of this table.

”
(NR)

Art. 4 Section 4 (National Program for Support to Medium Rural Producers – Pronamp) of Chapter 7 (Financial Charges and Credit Limits) of the MCR shall be amended as follows:

“Table 1: Financial Charges for Financings of the National Program for Support to Medium Rural Producers – Pronamp (MCR 8)
Purpose / Beneficiary	Effective interest rate up to (% p.a.)
Fixed	Post-fixed(*)
Working Capital Credit (MCR 8-1-1) and Revolving Working Capital Credit (MCR 8-1-4)
1 - All beneficiaries of this Program	8.00%	-
Investment Credit (MCR 8-1-1)
1 - All beneficiaries of this Program	8.00%	2.06% p.a. + FAM

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

“Table 2 - Credit Limits for Financings of the National Program for Support to Medium Rural Producers (Pronamp)
Beneficiary / Purpose	Value per beneficiary, in each agricultural year and throughout the National Rural Credit System (SNCR)	Additional Conditions
Working Capital Credit (MCR 8-1-1)
1 - All beneficiaries of this Program	R$1,500,000.00	a) the beneficiary who takes the working capital credit under Pronamp is unable to receive, in the same agricultural year, working capital credit with Controlled Resources outside the scope of Pronamp, except those taken within the scope of regional financing constitutional funds.
Revolving Working Capital Credit (MCR 8-1-4)
1 - All beneficiaries of this Program	R$80,000.00	a) the amount taken in the revolving working capital credit will be deducted, in each agricultural year, from the Working Capital Credit limit (MCR 8-1-1).
Investment Credit (MCR 8-1-1)
1 - All beneficiaries of this Program	R$430,000.00	a) the investment credit for a collective enterprise must observe the individual limit of each participant.

”
(NR)

Art. 5 Section 5 (Coffee Economy Defense Fund – Funcafé) of Chapter 7 (Financial Charges and Credit Limits) of the MCR shall be amended as follows:

“Table 1: Financial Charges for Financings with Resources from the Coffee Economy Defense Fund (Funcafé)
Beneficiary / Purpose	Effective fixed interest rate up to (% p.a.)
Working Capital Credit (MCR 9-2)
1 - Coffee grower and agricultural production cooperative	11.00%
Marketing Credit (MCR 9-3)
1 - Coffee grower and agricultural production cooperative	11.00%
Coffee Acquisition Financing - FAC (MCR 9-4)
1 - Coffee roasting industry, soluble coffee industries, processors and exporters	11.00%
2 - Coffee grower cooperatives that carry out processing, roasting or coffee export activities	11.00%
Credit for Options Contracts and Operations in Futures Markets (MCR 9-5)
1 - Coffee grower and agricultural production cooperative	11.00%
Credit for Working Capital for Soluble Coffee and Coffee Roasting Industries and for Production Cooperative (MCR 9-6)
1 - Soluble coffee industry, Coffee roasting industry and agricultural production cooperative	11.00%
Credit for Recovery of Damaged Coffee Groves (MCR 9-7)
1 - Coffee grower with minimum loss of 10% of the crop due to weather events	11.00%

” (NR)

“Table 2: Credit Limits for Financings with Resources from the Coffee Economy Defense Fund (Funcafé)
Purpose / Beneficiary	Value per agricultural year	Additional Conditions
Working Capital Credit (MCR 9-2)
1 - Coffee grower	R$3,000,000.00	a) the limit considers all amounts taken for working capital with Controlled Resources (MCR 6-1) throughout the National Rural Credit System (SNCR). b) observing the individual limit of R$500,000.00 per active member of the production cooperative.
2 - Production cooperative	R$50,000,000.00
Marketing Credit (MCR 9-3)
1 - Coffee grower	R$4,500,000.00	a) the limit considers, cumulatively, all amounts taken for marketing with Controlled Resources, in each crop and throughout the SNCR. b) in the credit for production cooperative, the limit of R$4,500,000.00 per active member must be observed.
2 - Production cooperative	50% of the annual processing or industrialization capacity, per cooperative of rural producers that processes or industrializes the product
Coffee Acquisition Financing-FAC (MCR 9-4)
1- Coffee roasting industry, soluble coffee industries, processors, exporters	R$40,000,000.00	a) respecting the limit of 50% of the annual processing or industrialization capacity; b) observing the provisions of item 2 of the General Provisions of Table 2: Limits for Credits to Agricultural Production Cooperatives (MCR 7-3).
2 - Coffee grower cooperatives that carry out processing, roasting or coffee export activities
Credit for Options Contracts and Operations in Futures Markets (MCR 9-5)
1 - Coffee grower	R$80,000.00	a) regardless of the limits of other financing lines with Funcafé resources or other sources of rural credit.
2 - Production cooperative	R$40,000.00 per active member who deposited the coffee production in the cooperative for price protection
Credit for Working Capital for Soluble Coffee and Coffee Roasting Industries and for Production Cooperative (MCR 9-6)
1 - Soluble coffee industry	R$40,000,000.00	-
2 - Coffee roasting industry	R$5,000,000.00	-
3 - Production cooperative	R$ 50,000,000.00	a) the financing must observe the limit of 25% of the volume of coffees, per crop, received until September 30 of each year, multiplied by the prevailing minimum price.
Credit for Recovery of Damaged Coffee Groves (MCR 9-7)
1 - Coffee grower with minimum loss of 10% of the crop due to weather events	R$400,000.00	a) limited to R$ 8,000.00 per hectare of coffee crop to be recovered; b) the limit may consider the area of more than one property.

” (NR)

Art. 6 The Section 6 (National Program for Strengthening of Family Agriculture – Pronaf) of Chapter 7 (Financial Charges and Credit Limits) of the MCR shall be in effect with the following alterations:

“Table 1: Financial Charges for Financing under the National Program for Strengthening of Family Agriculture (Pronaf)
Purpose / Beneficiary	Effective interest rate up to (% p.a.)		Default Bonus and Additional Conditions
Pre-fixed	Post-fixed(*)
Pronaf for Beneficiaries of PNCF, PNRA and PCRF (MCR 10-3)
1 - Working Capital Credit: beneficiaries classified in Group “A/C”	1.5%	-	-
2 - Investment Credit: beneficiaries classified in Group “A” whose financing project does not include remuneration for technical assistance	0.5%	-	a) default bonus of 40% (forty percent) on each installment of the principal paid by its due date.
3 - Investment Credit: beneficiaries classified in Group “A” whose financing project includes remuneration for technical assistance	0.5%	-	a) default bonus of 42.857% (forty-two and five hundred fifty-seven thousandths percent) on each installment of the principal paid by its due date.
4 - Investment Credit: PNRA beneficiaries with annual gross family income up to R$20 thousand, according to MCR 10-2-1-“f”, and who do not hire permanent salaried labor	0.5%	-	a) default bonus of 50% (fifty percent) on each installment of the debt paid by its due date; b) beneficiaries who have already reached the limit with the right to default bonus may access new credits under the conditions of Pronaf Rural Productive Microcredit – Group “B” (MCR 10-13), except regarding the default bonus, which in this case will not be applied, and provided that the criteria for qualification for that line of credit are met.
Working Capital Credit (MCR 10-4)
1 - cultivation of rice, beans, cassava, cowpea, wheat, peanut, garlic, tomato, onion, yam, jicama, sweet potato, Irish potato, pineapple, banana, açaí, pupunha, cocoa, baru, cashew nut, orange, tangerine, vegetables, yerba mate, medicinal, aromatic and condiment herbs; of other products inserted in agroecological-based production systems or in transition to agroecological-based systems	5.00%	-	a) for collective operations, the effective interest rate will be determined by the individual value obtained by the criterion of proportional participation.
2 - cultivation of corn, whose operations summed reach a value of up to R$20,000.00 per borrower in each agricultural year	5.00%	-
3 - livestock working capital for activities of beekeeping, dairy cattle farming, aquaculture and fishing, sheep and goat farming and ecologically sustainable extractive exploration	5.00%	-
4 - acquisition of animals intended for rearing and fattening; operations intended for corn cultivation that, summed, exceed the value of R$20,000.00, per borrower in each agricultural year; and other crops and breeding	6.00%	-
Investment Credit - Pronaf More Food (MCR 10-5)
1 - acquisition and installation of protected cultivation structures, including automation equipment for these crops	5.00%	-0.77% + FAM	-
2 - construction of silos, expansion and construction of warehouses intended for the storage of grains, fruits, tubers, bulbs, vegetables and fibers	5.00%	-0.77% + FAM	-
3 - acquisition of milk cooling tanks and milking machines	5.00%	-0.77% + FAM	-
4 - aquaculture and fishing	5.00%	-0.77% + FAM	-
5 - other enterprises and purposes of the Program	6.00%	0.17% + FAM	-
Investment Credit - Pronaf Agroindustry (MCR 10-6)
1 - all beneficiaries and purposes of the Credit Line	6.00%	0.17% + FAM	-
Investment Credit – Pronaf ABC+ Forest (MCR 10-7)
1 - all beneficiaries and purposes of the Credit Line	5.00%	-0.77% + FAM	-
Investment Credit – Pronaf ABC+ Semi-arid (MCR 10 - 8)
1 - all beneficiaries and purposes of the Credit Line	5.00%	-0.77% + FAM	-
Investment Credit - Pronaf Woman (MCR 10-9)
1 - beneficiaries classified in Groups “A”, “A/C” and “B”, including financing projects that adopt the methodology of the National Program for Guided Productive Microcredit (PNMPO)	0.50%	-	a) the default bonuses established in items “a” and “b” of Pronaf Rural Productive Microcredit (Group “B”), of this table, apply.
2 - other beneficiaries: adoption of conservation practices for the use, management and protection of natural resources, including the correction of soil acidity and fertility and the acquisition, transport and application of inputs for these purposes	5.00%	-0.77% + FAM	-
3 - other beneficiaries: formation and recovery of pastures, hayfields and other forage species, production and conservation of forage, silage and hay intended for animal feed	5.00%	-0.77% + FAM	-
4 - other beneficiaries: implementation, expansion and reform of infrastructure for water capture, storage and distribution, including acquisition and installation of water reservoirs, electrical infrastructure and equipment for irrigation	5.00%	-0.77% + FAM	-
5 - other beneficiaries: acquisition and installation of protected cultivation structures, including automation equipment for these crops	5.00%	-0.77% + FAM	-
6 - other beneficiaries: construction of silos, expansion and construction of warehouses intended for the storage of grains, fruits, tubers, bulbs, vegetables and fibers	5.00%	-0.77% + FAM	-
7 - other beneficiaries: acquisition of milk cooling tanks and milking machines	5.00%	-0.77% + FAM	-
8 - other beneficiaries: ecologically sustainable extractive exploration	5.00%	-0.77% + FAM	-
9 - other beneficiaries: other enterprises and purposes of the Program	6.00%	0.17% + FAM	-
Investment Credit - Pronaf Youth (MCR 10-10)
1 - all purposes and beneficiaries of the Credit Line	5.00%	-0.77% + FAM	-
Industrialization Credit - Pronaf Industrialization of Family Agroindustry (MCR 10-11)
1 - all purposes and beneficiaries of the Credit Line	6.00%	-	-
Credit for Integration of Partnership Shares - Pronaf Partnership Shares (MCR 10-12)
1 - all purposes and beneficiaries of the Credit Line	6.00%	-	-
Investment Credit - Pronaf Rural Productive Microcredit - Group “B” (MCR 10-13)
1 - all purposes and beneficiaries of the Credit Line	0.5%	-	a) default bonus on each installment of the debt paid by its due date: I - of 25% (twenty-five percent); and II - of 40% (forty percent), when the financing is intended for an enterprise located in the semi-arid region of the area of coverage of the Superintendency for the Development of the Northeast (Sudene); b) the default bonus of 40% may only be applied when the PNMPO methodology is adopted and when the investment credits are intended for projects that contemplate financing of items referring to the following actions: I - productive systems with water reserve; II - productive systems with food reserve for animals; III - recovery and strengthening of regional food crops; IV - recovery and strengthening of livestock and small breeding; V - agroindustry for diversification and value addition to production; VI - irrigated agriculture of the semi-arid region; VII - agroecological or organic production systems.
Investment Credit – Pronaf ABC+ Agroecology (MCR 10-14)
1 - all purposes and beneficiaries of the Credit Line	5.00%	-0.77% + FAM	-
Investment Credit - Pronaf ABC+ Bioeconomy (MCR 10-16)
1 - for silviculture, understanding silviculture as the act of implanting or maintaining forest plantations generating different products, timber and non-timber, and	6.00%	0.17% + FAM	-
2 - for other purposes	5.00%	-0.77% + FAM	a) The financing for the acquisition of tractors and associated implements, combines and their cutting platforms, as well as self-propelled agricultural machines for spraying and fertilizing, when related to the enterprises and purposes of this item, must observe the financial charge defined in item 1.
Investment Credit - Pronaf Guided Productive (MCR 10-17)
1 - all purposes and beneficiaries of the Credit Line	5.00%	-0.77% + FAM	a) fixed default bonus of R$3,300.00, which can be increased to R$4,500.00 when the credit is intended for financing of enterprises in municipalities of the North region, granted proportionally to each installment of the debt (principal and charges) paid by the due date.

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

“Table 2 - Credit Limits for Financing under the National Program for Strengthening Family Agriculture (Pronaf), respecting the debt limits provided for in MCR 10-1-34
Purpose/Beneficiary			Value			Additional Conditions
Credits for Beneficiaries of PNCF, PNRA, and PCRF (MCR 10-3)
1 - Working Capital Credit: beneficiaries classified in Group “A/C”			R$9,000.00			a) limit per agricultural year; b) the same beneficiary may take only 3 (three) working capital credits under this line.
2 - Investment Credit: beneficiaries classified in Group "A" whose financing project does not include remuneration for technical assistance			R$30,000.00			a) total limit per beneficiary; b) this limit may be divided into up to 3 (three) operations, according to the technical project, upon proof of payment capacity and, in case of more than one operation, the normal situation and correct application of resources from the previous operation; c) the sum of credits is limited to the maximum limit in effect at the time of the first operation; d) the beneficiary who contracted an investment operation based on items 2 or 3 of this line may not contract the credit provided for in item 4.
3 - Investment Credit: beneficiaries classified in Group "A" whose financing project includes remuneration for technical assistance			R$31,500.00
4 - Investment Credit: beneficiaries of PNRA with annual gross family income up to R$20,000, according to MCR 10-2-1-“f”, and who do not hire permanent salaried labor			R$4,000.00			a) limit per agricultural year; b) the same beneficiary may contract only 3 (three) financings, conditioned on the prior settlement of the previous financing; c) the sum of financings granted under this line, with right to compliance bonus, shall not exceed R$12,000.00; d) beneficiaries who have already reached the limit with right to compliance bonus may access new credits under the conditions of Pronaf Microcrédito Produtivo Rural – Group “B” (MCR 10-13), except regarding the compliance bonus, which in this case will not be applied, and provided that the classification criteria for that credit line are met; e) the beneficiary who has contracted investment operations under the conditions established in this item may only contract the credit provided for in item 2 or 3 after the settlement of the operations contracted under this item.
Working Capital Credit (MCR 10-4)
1 - all Pronaf beneficiaries, except those classified in groups "A" and "A/C"			R$250,000.00			a) limit per agricultural year; b) within the financing limit provided for in this item, the borrower may contract a new working capital operation in the same harvest, provided that the subsequent credit is intended for a different crop than the previously financed one or for livestock working capital; c) the following are not counted for purposes of classification in this limit: I - financings contracted under the Pronaf Working Capital for Family Agroindustries line (MCR 10-11); II - expenses provided for in MCR 2-3-1; III - financings intended for the working capital of tobacco culture carried out outside the scope of Pronaf.
Investment Credit - Pronaf Mais Alimentos (MCR 10-5)
1 - construction or renovation of housing on rural property owned by the borrower or a third party			R$60,000.00			a) limit per agricultural year; b) when construction or renovation occurs on a third-party property, the CPF of both must appear as holders in DAP or in a valid Pronaf National Registry of Family Agriculture document (CAF-Pronaf), noting that each borrower may have only one operation “pending” for this purpose; that the economic viability of the activities developed in the borrower's productive unit must be defined in the technical project for payment of the credit; and that, in the case where the financing object is carried out on a third-party rural property, the owner must guarantee the credit operation and agree to formally cede to the borrower the location of construction or the housing to be renovated, for a period of no less than 25 (twenty-five) years.
2 - swine farming, poultry farming, aquaculture, crustacean farming (crustacean breeding) and fruit farming			R$400,000.00			a) limit per agricultural year; b) financing of construction, renovation or expansion of permanent improvements and installations, machinery, equipment, including irrigation, and agricultural and livestock equipment and storage structures, for common use, is admitted in the form of collective credit, provided that the individual limit per participating beneficiary is observed and that the sum of the values of the individual operations and the beneficiary's participation in the collective operation does not exceed the limit of up to R$400,000.00 for activities of swine farming, poultry farming, aquaculture, crustacean farming and fruit farming per beneficiary and per agricultural year, or up to R$200,000.00 for other enterprises and purposes.
3 - other enterprises and purposes			R$200,000.00
Investment Credit - Pronaf Agroindustry (MCR 10-6)
1 - natural person			R$200,000.00			a) limit per agricultural year, applicable to one or more operations; b) in the case of a rural family enterprise, the individual limit of R$200,000.00 per condominium or partner must be observed, according to the technical project and the economic-financial viability study of the enterprise; c) in the case of a family agriculture cooperative, the limit of R$45,000.00 per associate with Active DAP or valid CAF-Pronaf related in the DAP issued for the cooperative or in the Registration of Inscription in the National Registry of Family Agriculture (RICAF) of the cooperative must be observed, according to the technical project and the economic-financial viability study of the enterprise; d) the individual credit limit of R$45,000.00, related to operations with cooperatives, is independent of the limits for natural or legal persons under this line; e) other conditions: I - up to 30% (thirty percent) of the financing value may be destined for investment in the agricultural production subject to benefitting, processing or marketing; II - up to 15% (fifteen percent) of the financing value of each agroindustrial unit may be applied to the central management support unit, in the case of network agroindustries, or, when it is the case of isolated agroindustries, for payment of services such as accounting, product development, quality control, managerial and financial technical assistance; III - it is admitted that in the individual investment plan or project there is provision for the use of part of the financing resources for collective use enterprises.
2 - legal person - rural family enterprise: milk producer condominium			R$7,000,000.00
3 - legal person - rural family enterprise: others			R$400,000.00
4 - legal person - family agriculture cooperative			R$35,000,000.00
Investment Credit – Pronaf ABC+ Forest (MCR 10-7)
1 - exclusively for agroforestry systems projects, except for beneficiaries classified in Groups “A”, “A/C” and “B”			R$60,000.00			a) limit per beneficiary and per agricultural year; b) the same family production unit may contract up to 2 (two) financings under Pronaf ABC+ Forest; c) the second financing is conditioned on the payment of at least two installments of the first financing and the presentation of a technical assistance report confirming the regularity situation of the financed enterprise and payment capacity; d) for financings for beneficiaries classified in Groups “A”, “A/C” and "B", the option provided for in MCR 10-1-23 regarding the risk of the operation applies.
2 - other purposes, except for beneficiaries classified in Groups “A”, “A/C” and “B”			R$33,000.00
3 - beneficiaries classified in Groups “A”, “A/C” and "B": all purposes			R$18,000.00
Investment Credit – Pronaf ABC+ Semi-Arid (MCR 10 - 8)
1 - all purposes and beneficiaries of the Credit Line			R$24,000.00			a) limit per beneficiary and per agricultural year; b) at least 50% (fifty percent) of the credit value must be destined to the implementation, construction, expansion, recovery or modernization of water infrastructure, and the remaining value of the credit must be destined to planting, cultural practices and implementation, expansion, recovery or modernization of other production infrastructures and agricultural and non-agricultural services, in accordance with the release schedule contained in the technical project or simplified proposal; c) the same family production unit may keep up to 2 (two) financings “pending” in this line, with the contracting of the second being conditioned on the payment of 1 (one) installment of the previous financing and the presentation of a technical assistance report confirming the regularity situation of the financed enterprise and payment capacity; d) the option provided for in MCR 10-1-23 regarding the risk of the operation may be applied.
Investment Credit - Pronaf Mulher (MCR 10-9)
1 - beneficiaries classified in Groups "A", "A/C" and "B"	R$3,000.00						a) for beneficiaries classified in Groups "A", "A/C" and "B": I - limit per beneficiary and per agricultural year, regardless of the number of operations; II - the sum of financings with right to compliance bonus granted to family production units of beneficiaries shall not exceed R$9,000.00, or R$18,000.00 when the PNMPO methodology is applied; III - upon reaching the limit per beneficiary, the granting of new credits is conditioned on the prior settlement of previous financing, except in the case of operations extended by authorization of the Monetary Council (CMN); IV - beneficiaries whose family production units have already reached the operational ceiling with right to compliance bonus, if they prove that they continue to be classified in Groups "A", "A/C" and "B", by presenting the Declaration of Aptitude to Pronaf (DAP) or the Pronaf National Registry of Family Agriculture document (CAF-Pronaf) to the financial agent, are eligible for new credits, subject to the provisions of item III, under the same conditions of Section Microcrédito Produtivo Rural - Group “B” (MCR 10-13), except regarding the compliance bonus, which in this case will no longer be applied; b) in financing for construction or renovation of housing, the additional condition of item 1, letter "b" of Pronaf Mais Alimentos (MCR 10-5) in this table must be respected; c) in financing for the purposes provided for in items 4 and 5, the additional condition of item 2 and 3, letter "b" of Pronaf Mais Alimentos (MCR 10-5) in this table may be applied; d) the same family production unit may keep up to 2 (two) financings “pending” under Pronaf Mulher; e) the contracting of new financing is conditioned on the settlement or payment of at least 3 (three) installments of the previous financing and the presentation of a technical assistance report confirming the regularity situation of the financed enterprise and payment capacity; f) limit per beneficiary and per agricultural year for the purposes provided for in items 3, 4 and 5.
2 - beneficiaries classified in Groups "A", "A/C" and "B" whose financing projects adopt the methodology of the National Program for Guided Productive Microcredit (PNMPO)	R$6,000.00
3 - other beneficiaries: construction or renovation of housing	R$60,000.00
4 - other beneficiaries: swine farming, poultry farming, aquaculture, crustacean farming (crustacean breeding) and fruit farming	R$400,000.00
5 - other beneficiaries: other purposes	R$200,000.00
Investment Credit - Pronaf Jovem (MCR 10-10)
1 - young person aged between 16 and 29 years, member of a family unit classified in Pronaf	R$20,000.00						a) limit per agricultural year; b) only 3 (three) financings may be granted for each beneficiary, with the contracting of new financing conditioned on the prior settlement of the previous one, subject to each financing the provisions of letter "a"; c) the option provided for in MCR 10-1-23 regarding the risk of the operation applies.
Industrialization Credit - Pronaf Industrialization of Family Agroindustry (MCR 10-11)
1 – natural person - rural producer	R$45,000.00						a) limits per agricultural year, applicable to one or more operations; b) the limit of R$45,000.00 per partner with Active DAP or valid CAF-Pronaf related in the DAP or in the Registration of Inscription in the National Registry of Family Agriculture (RICAF) issued for the rural family enterprise or for the cooperative must be observed, according to the technical project and the economic-financial viability study of the enterprise; c) financing to the central cooperative must attend to at least two singular cooperatives affiliated with it, observing the limit of R$45,000.00 per associate related in the DAP or RICAF issued for the cooperative, relative to the products delivered by the singular cooperatives, as well as their storage, conservation and sale, provided that the products have not been the object of financing granted to the same singular cooperatives under this line, respecting the technical project and the economic-financial viability study of the enterprise.
2 - legal person - rural family enterprise	R$210,000.00
3 - legal person - singular family agriculture cooperative	R$15,000,000.00
4 - legal person - central family agriculture cooperative	R$30,000,000.00
Credit for Integration of Partnership Shares - Pronaf Partnership Shares (MCR 10-12)
1 - rural producer	R$40,000.00						a) the credit may be granted in one or more operations; b) the sum of the values of the credit operations contracted by the same borrower may not exceed the limits defined for this credit line; c) in credit for cooperative, the limit of R$40,000.00 per associate with Active DAP or valid CAF-Pronaf participating in a financed project must also be observed.
2 - agricultural production cooperative	R$40,000,000.00
Investment Credit - Pronaf Microcrédito Produtivo Rural - Group “B” (MCR 10-13)
1 - beneficiaries whose financing projects adopt the methodology of the National Program for Guided Productive Microcredit (PNMPO)	R$6,000.00						a) limits per beneficiary and per agricultural year, regardless of the number of operations; b) the sum of financings with right to compliance bonus granted to family production units of beneficiaries of this group shall not exceed R$9,000.00 or, when the PNMPO methodology is applied, R$18,000.00; c) upon reaching the limit per beneficiary, the granting of new credits under this credit line is conditioned on the prior settlement of previous financing, except in the case of operations extended by authorization of the Monetary Council (CMN); d) beneficiaries whose family production units have already reached the operational ceiling with right to compliance bonus, if they prove that they continue to be classified in Group "B", by presenting the Declaration of Aptitude to Pronaf (DAP) or the Pronaf National Registry of Family Agriculture document (CAF-Pronaf) to the financial agent, are eligible for new credits in this group, under the same conditions of this credit line, except regarding the compliance bonus, which in this case will no longer be applied, and subject to the provisions of letter "c".
2 - other beneficiaries	R$3,000.00
Investment Credit – Pronaf ABC+ Agroecology (MCR 10-14)
1 - swine farming, poultry farming, aquaculture, crustacean farming (crustacean breeding) and fruit farming		R$400,000.00			a) limit per agricultural year.
2 - other purposes		R$200,000.00
Investment Credit - Pronaf ABC+ Bioeconomy (MCR 10-16)
1 - all purposes		R$200,000.00		a) limit per agricultural year.
Investment Credit - Pronaf Produtivo Orientado (MCR 10-17)
1 - family rural producers, whose enterprise is located in the areas of operation of the Constitutional Financing Funds of the Northeast (FNE), North (FNO) and Center-West (FCO)		Minimum of R$18,000.00 and maximum of R$40,000.00		a) limits per operation and agricultural year; b) the same family production unit may keep up to 2 (two) financings “pending” in this credit line, with the second only being able to finance Technical Assistance and Rural Extension (Ater) and be entitled to the compliance bonus in values proportional to the additional years of technical assistance previously financed, and also, upon presentation of a technical assistance report confirming the regularity situation of the financed enterprise and payment capacity.

” (NR)

Art. 7 The Section 7
(Programs with BNDES Resources) of Chapter 7 (Financial Charges and Credit Limits) of the MCR shall be amended as follows:

“Table 1: Financial Charges for Financing of Programs with BNDES Resources
Beneficiary / Purpose	Effective interest rate up to(% p.a.)
Fixed	Post-fixed(*)
Agropecuary Cooperatives Capitalization Program - Procap-Agro (MCR 11-2)
1 - rural producers, natural or legal persons and cooperatives, singular and central, of agropecuary, agroindustrial, aquacultural or fishing production, federations and confederations that act directly in the manufacture of inputs and in the processing and industrialization of production, provided that they are formed exclusively by agropecuary, agroindustrial, aquacultural or fishing production cooperatives: integration of partnership shares and working capital	11.50%	5.37% p.a. + FAM
Irrigated Agriculture and Protected Cultivation Financing Program – Proirriga (MCR 11-3)
1 - all financeable items	10.50%	4.42 + FAM
Agriculture Modernization and Natural Resources Conservation Program - Moderagro (MCR 11-4)
1 - rural producers and their production cooperatives, including for pass-through to their associates	10.50%	4.42 + FAM
Modernization of Agricultural Tractor Fleet and Associated Implements and Combines Program – Moderfrota (MCR 11-5)
1 - rural producers and their cooperatives whose gross operating revenue/annual or annualized income, or of the economic group to which they belong, is up to R$45,000,000.00	12.50%	6.31 + FAM
Cooperative Development Program for Value Addition to Agropecuary Production – Prodecoop (MCR 11-6)
1 - singular agropecuary, agroindustrial, aquacultural or fishing production cooperatives 2 - central cooperatives formed exclusively by agropecuary, agroindustrial, aquacultural or fishing production cooperatives 3 - associates, for integration of partnership shares linked to the project to be financed	11.50%	5.37% p.a. + FAM
Program for Adaptation to Climate Change and Low Carbon Emission in Agropecuary - ABC+ Program (MCR 11-7)
1 - rural producers and their cooperatives, including for pass-through to associates: adequacy or regularization of rural properties in relation to environmental legislation, including recovery of legal reserve, permanent preservation areas, recovery of degraded areas and implementation and improvement of sustainable forest management plans (ABC+ Environmental)	7.00%	1.12 + FAM
2 - rural producers and their cooperatives, including for pass-through to associates: other purposes	8.50%	2.53 + FAM
Technological Innovation Incentive Program in Agropecuary Production – Inovagro (MCR 11-8)
1 - rural producers and their production cooperatives: all financeable items	10.50%	4.42 + FAM
Program for Construction and Expansion of Warehouses – PCA (MCR 11-9)
1 - rural producers and their production cooperatives whose total capacity of storage units existing on the date of credit contracting, per beneficiary, does not exceed 6,000 tons: financing of one or more grain storage units that together do not exceed 6,000 tons	7.00%	1.12 + FAM
2 - rural producers and their production cooperatives: other investments	8.50%	2.53 + FAM

(*) Post-fixed interest rate composed of a fixed part added to the Monetary Update Factor (FAM).” (NR)

“Table 2: Credit Limits for Financing of Programs with Resources from the National Bank for Economic and Social Development (BNDES)
Beneficiary / Purpose	Value	Additional Condition
Cooperative Capitalization Program for Agricultural Cooperatives - Procap-Agro (MCR 11-2)
1 - rural producers, individuals or legal entities: subscription of partnership shares	R$45,000.00	a) global credit limit per associate and per cooperative, throughout the National System of Rural Credit (SNCR), observing MCR 11-2-2-“j”; b) regardless of credits obtained in other official programs.
2 - agricultural production cooperatives: subscription of partnership shares of social capital in central cooperatives exclusively of agricultural production, agro-industrial, aquaculture or fishing	R$65,000,000.00
3 - cooperatives, singular and central, of agricultural production, agro-industrial, aquaculture or fishing, federations and confederations that act directly in the manufacture of inputs and in the processing and industrialization of production, provided they are formed exclusively by agricultural production, agro-industrial, aquaculture or fishing cooperatives: working capital	R$65,000,000.00	a) regardless of credits obtained for subscription of partnership shares, observing MCR 11-2-3-“d”.
Program for Financing Irrigated Agriculture and Protected Cultivation – Proirriga (MCR 11-3)
1 - all financeable items: individual enterprise	R$3,300,000.00	a) Regardless of other credits granted under controlled resources (MCR 6-1) of rural credit, respecting the individual limit per participant, in the case of collective credit.
2 - all financeable items: collective enterprise	R$9,900,000.00
Program for Modernization of Agriculture and Conservation of Natural Resources - Moderagro (MCR 11-4)
1 - rural producers and their production cooperatives: individual enterprise	R$880,000.00	a) Regardless of other credits granted under controlled resources of rural credit, respecting the individual limit per participant, in the case of collective credit; b) associated operating financing is admitted, as per MCR 11-4-1-“d”.
2 - rural producers and their production cooperatives, for the purchase of animals: individual enterprise	R$400,000.00
3 - rural producers and their production cooperatives: collective enterprise	R$2,640,000.00
Program for Modernization of the Fleet of Agricultural Tractors and Associated Implements and Combines - Moderfrota (MCR 11-5)
1 - rural producers and their cooperatives whose gross operating revenue/annual or annualized income, or of the economic group to which they belong, is up to R$45,000,000.00	85% of the value of the goods subject to financing	a) in the case of machinery that uses biomethane as fuel, this limit may be increased to up to 100% of the value of the goods subject to financing, observing that the financing project must establish that the methane used as fuel must be produced from manure and waste from animal production.
Program for Cooperative Development for Value Addition to Agricultural Production - Prodecoop (MCR 11-6)
1 - singular cooperatives of agricultural production, agro-industrial, aquaculture or fishing; 2 - central cooperatives formed exclusively by cooperatives of agricultural production, agro-industrial, aquaculture or fishing; 3 - associates, for subscription of partnership shares linked to the project to be financed	R$150,000,000.00	a) in one or more operations, observing the financing ceiling of 90% of the value of the project; b) associated operating financing is admitted, as per MCR 11-6-1-“d”-V.
Program for Adaptation to Climate Change and Low Carbon Emission in Agriculture and Livestock - ABC+ Program (MCR 11-7)
1 - rural producers and their cooperatives, including for transfer to associates	R$5,000,000.00	a) per agricultural year, regardless of other credits granted under controlled resources of rural credit; b) financing of the items referred to in MCR 11-7-1-“d”-XIII and XIV and MCR 11-7-1-“e” is admitted, within the limits established therein; c) when it comes to collective projects intended for the utilization of biogas for the generation of electricity and production of biomethane, the credit limit may be increased to R$ 20,000,000.00, per agricultural year, respecting the individual limit per participant of R$5,000,000.00, and observing the following conditions: I - biogas and biomethane must be produced solely from manure and waste from animal production own to the participants of the collective project; II - the electricity and biomethane produced must be destined exclusively for own use.
Program for Incentive to Technological Innovation in Agricultural Production - Inovagro (MCR 11-8)
1 - rural producers and their production cooperatives: individual enterprise	R$1,300,000.00	a) regardless of other credits granted under controlled resources of rural credit, respecting the individual limit per participant, when the credit is collective; b) financing of technical assistance and associated operating financing is admitted, as per MCR 11-8-1-“c”-IX and X.
2 - rural producers and their production cooperatives: collective enterprise	R$3,900,000.00
Program for Construction and Expansion of Warehouses - PCA (MCR 11-9)
1 - rural producers and their production cooperatives: storage for grains	R$50,000,000.00	a) regardless of other credits granted under controlled resources of rural credit.
2 - rural producers and their production cooperatives: other items	R$25,000,000.00

” (NR)

Art. 8º This Resolution enters into force on July 1, 2022.

Paulo Sérgio Neves de Souza
President of the Central Bank of Brazil, substitute