Resolution CMN No. 5,092 — Adjusts Rules Applicable to Operations Contracted with Resources of the Land and Agrarian Reform Fund (FTRA Plus)

Resolution No. 5,092

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

RESOLUTION CMN NO. 5,092, OF
JULY 20, 2023

Adjusts rules applicable to operations contracted with resources of the Land and Agrarian Reform Fund governed by Section 7 (Land and Agrarian Reform Fund Plus) of Chapter 4 (Special Purposes and Instruments of Agricultural Policy) 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 a session held on July 20, 2023, considering the provisions of item VI of Article 4 of Law No. 4,595 of 1964, Articles 4 and 14 of Law No. 4,829 of November 5, 1965, Article 7 of Complementary Law No. 93 of February 4, 1998, and Decree No. 11,585 of June 28, 2023,

R E S O L V E S:

Article 1. Section 7 (Land and Agrarian Reform Fund Plus) of Chapter 4 (Special Purposes and Instruments of Agricultural Policy) of the Rural Credit Manual (MCR) shall enter into force with the following alterations:

“1 - Financing for the acquisition of rural property, under the resources of the Land and Agrarian Reform Fund (FTRA), shall comply with the provisions of Decree No. 11,585 of June 28, 2023, and the following conditions:

a) beneficiaries:

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

“13 - For the purpose of the renegotiation provided for in item 12:

a) financial institutions may extend contract installments for up to 1 (one) year after the date scheduled for the current maturity of the instrument, maintaining the other agreed conditions, and in this case, the repayment period may exceed 20 (twenty) years, as provided in Article 23 of Law No. 12,599 of March 23, 2012;

b) financial institutions shall prioritize extensions for borrowers with greater difficulty in making full payment of installments due within the year, within the established deadlines;

c) provided that authorized by the FTRA managing body, the limit per Federative Unit may be exceeded, respecting the national limit of up to 10% (ten percent) of the value of installments due within the year, considering all operating financial institutions, with other conditions maintained;

d) the contractual alteration must be formalized within 90 (ninety) days after the date of approval of the extension;

e) operating financial institutions are responsible for sending the following information to the FTRA managing body:

I - report with the value of installments scheduled for each calendar year, submitted annually by February 28;

II - report of extended operations with the value of installments and the new financing schedule, submitted each quarter of the calendar year.” (NR)

Article 2. Table 1: Financial Charges for the Land and Agrarian Reform Fund Plus (MCR 4-7) Section 2 (Land and Agrarian Reform Fund Plus) of Chapter 7 (Financial Charges and Credit Limits) of the MCR shall enter into force with the following alterations:

Table 1: Financial Charges for the Land and Agrarian Reform Fund Plus (MCR 4-7)
Purpose / Beneficiary	Effective interest rate (% p.a.), according to the beneficiary's classification at the time of financing contract	Additional Conditions
1 - annual gross family income up to R$20,000.00 (twenty thousand reais) and assets up to R$70,000.00 (seventy thousand reais) for families in the North region and municipalities within the coverage area of the Superintendency for the Development of the Northeast (Sudene), registered in the Federal Government's Single Registry 2 - annual gross family income up to R$40,000.00 (forty thousand reais) and assets up to R$140,000.00 (one hundred and forty thousand reais) for young people over eighteen and under thirty years old, from any region	0.5%	a) compliance bonus, applied to the value of the financing repayment installment: I - 40% (forty percent) for beneficiaries referred to in items 1 and 2; II - 20% (twenty percent) for beneficiaries referred to in item 3; b) revoked; c) the financing risk shall be assumed by the Land and Agrarian Reform Fund (FTRA) for financing granted to beneficiaries meeting the conditions set forth in items 1, 2, and 3; d) for the purpose of calculating the asset limit referred to in items 1, 2, and 3, the value of the dwelling building is excluded; e) financing for young people, as referred to in item 2, must be granted for the acquisition of property in the same state of origin or current domicile of the beneficiary, in accordance with the Operational Regulation of the Land and Agrarian Reform Fund.
3 - annual gross family income up to R$40,000.00 (forty thousand reais) and assets up to R$140,000.00 (one hundred and forty thousand reais) for families from any region	2.5%
4 - annual gross family income up to R$216,000.00 (two hundred and sixteen thousand reais) and assets up to R$500,000.00 (five hundred thousand reais) for families from any region	4%	a) the financing risk shall be assumed by the financial institution for financing granted to beneficiaries meeting the conditions set forth in item 4.

Article 3. The following are revoked:

I - items 14, 15, 16, and 17 of Section 7 of Chapter 4 of the MCR;

II - item “b” of Table 1: Financial Charges for the Land and Agrarian Reform Fund Plus (MCR 4-7) of Section 2 of Chapter 7 of the MCR.

Article 4. This Resolution enters into force on the date of its publication.

Diogo Abry Guillen
Acting President of the Central Bank of Brazil