Resolution CMN No. 5,030 — Establishes Additional Requirement for Rural Credit Application on Demand Resources for July 1, 2022 to June 30, 2023 and Reduces Mandatory Resource Direction Requirement from January 1, 2024

Resolution No. 5,030

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

RESOLUTION CMN NO. 5,030, OF JUNE 29, 2022

Establishes additional requirement for application in rural credit on demand resources for the compliance period from July 1, 2022, to June 30, 2023, and reduces the requirement for direction of Mandatory Resources (MCR 6-2) starting from January 1, 2024.

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, and Articles 4, 14, and 21 of Law No. 4,829, of November 5, 1965,

R E S O L V E S:

Art. 1 Section 2 (Mandatory) of Chapter 6 (Resources) of the Rural Credit Manual (MCR) shall be amended as follows:

“3 - Requirement for direction of Mandatory Resources is the duty of the financial institution to maintain applied in rural credit operations the value corresponding to 25% (twenty-five percent) of the value calculated in accordance with item 2, considering, for compliance with this requirement, the daily average balances of the operations related to business days.” (NR)

“4 - The requirement referred to in item 3 shall be 22.5% (twenty-two and five-tenths percent) starting from January 1, 2024.” (NR)

Art. 2 Section 8 (Transitional Norms) of Chapter 6 (Resources) of the MCR shall be amended as follows:

“10 - The financial institutions referred to in MCR 6-2-7 are subject to the additional requirement for application in rural credit of demand resources for the compliance period from July 1, 2022, to June 30, 2023, observing the provisions in items 11 to 15.” (NR)

“11 - The additional requirement referred to in item 10 is the duty of the financial institution to maintain applied in rural operating credit operations supported by MCR 3-2, the value corresponding to 1.5% (one and five-tenths percent) of the value calculated in accordance with MCR 6-2-2, observing the following conditions:

a) the financing must be contracted between July 1, 2022, and June 30, 2023;

b) the financing must observe the limits established in Table 2 of MCR 7-1 for Operating Credits, as well as other conditions established in MCR 3-2; and

c) the financing is subject to financial charges freely agreed upon between the parties.” (NR)

“12 - In compliance with the additional requirement referred to in item 10, financial institutions must observe the following conditions:

a) the compliance period:

I - begins on the first business day of the month of July 2022; and

II - ends on the last business day of the month of June 2023;

b) financial institutions that present an additional requirement equal to or less than R$10,000,000.00 (ten million reais) are exempt from compliance with this requirement;

c) institutions must edit, validate, and send information regarding compliance with the additional requirement in accordance with MCR - Document 6;

d) financial institutions that incur a deficiency in application must observe the provisions of MCR 6-5 applicable to the requirement of Mandatory Resources (MCR 6-2); and

e) the verification of compliance, under the responsibility of the Central Bank of Brazil, must be carried out starting from July 20, 2023, without prejudice to actions emanating from the supervision area.” (NR)

“13 - The balances of operations contracted to comply with the additional requirement referred to in item 11 may be reclassified to comply with the requirement of Mandatory Resources (MCR 6-2), starting from the compliance period that begins on July 1, 2023.” (NR)

“14 - The use of DIR-General, as described in MCR 6-6-2-“a”, is admitted for compliance with the additional requirement referred to in item 11, observing that:

a) the deposits must be contracted between July 1, 2022, and June 30, 2023;

b) the balances used to comply with the additional requirement cannot be accounted for to comply with the General Requirement of Mandatory Resources during the compliance period from July 1, 2022, to June 30, 2023; and

c) the general norms for Interbank Deposits Linked to Rural Credit (MCR 6-6) apply to these operations, provided they do not conflict with the special provisions of this Section.” (NR)

“15 - The general norms for operations supported by Mandatory Resources (MCR 6-2) apply to operations contracted to comply with the additional requirement, provided they do not conflict with the special provisions of this Section.” (NR)

Art. 3 This Resolution enters into force on July 1, 2022.

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