Resolution CMN No. 5,065 — Amends Sections 4 and 4-A of Chapter 2 of the Rural Credit Manual (MCR)

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

RESOLUTION CMN No. 5,065, OF MARCH 30, 2023

Amends provisions of Section 4 (Methodology for calculating Rural Credit Interest Rates - TCR) and
Section 4-A (Methodology for calculating Rural Interest Rates of the
Constitutional Financing Funds - TRFC), both of Chapter 2 (Basic Conditions) of the Rural Credit Manual (MCR).

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 (CMN), in a session held on March 30, 2023, in accordance with arts. 4, item VI, of Law No. 4,595, of 1964, 4 and 14 of Law No. 4,829, of November 5, 1965,

R E S O L V E D:

Art. 1 The Section 4
(Methodology for calculating Rural Credit Interest Rates - TCR) of Chapter 2 (Basic Conditions) of the Rural Credit Manual (MCR) shall be in effect with the following changes:

"2

• The calculation of the debtor balance of rural credit operations referred to in item
  1, through the application of TCRs, must observe the provisions of Section 3 of this
  Chapter, for the purpose of calculating their respective daily balances."

"16

• The Central Bank of Brazil must publish the FII on the last business day of the month of
  April of each year, for validity from July 1 to June 30 of the following year."

"17

• The Central Bank of Brazil is authorized to issue norms and adopt measures
  judged necessary for the execution of the provisions of this Section."

Art. 2 Section 4-A
(Methodology for calculating Rural Interest Rates of Constitutional Financing Funds - TRFC) of Chapter 2 of the MCR shall be in effect with the following changes:

"2

• The calculation of the debtor balance of rural credit operations referred to in item
  1, through the application of TRFCs, must observe the provisions of Section 3 of this
  Chapter, for the purpose of calculating their respective daily balances."

"4

• ...................................................................................................................

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

d)
FII corresponds to the Implicit Inflation Factor, calculated according to the methodology defined in MCR 2-4-9;

..............................................................................................................."

"10 - For the definition of interest rates for rural credit operations under the Pronaf, carried out with resources from the Constitutional Financing Funds of the North, Northeast and Center-West, the methodologies defined in Section 4 of this
Chapter must be observed."

"11 - The Central Bank of Brazil is authorized to issue norms and adopt measures judged necessary for the execution of the provisions of this Section."

"15 - The Central Bank of Brazil must publish the FII on the last business day of the month of April of each year, for validity from July 1 to June 30 of the following year."

Art. 3 Items 10 to 14 of
Section 4 of Chapter 2 of the MCR are revoked.

Art. 4 This Resolution enters into force on May 2, 2023.

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