Resolution CMN No. 5,163 — Amends Resolution CMN No. 5,118 to Regulate the Underlying Assets for the Issuance of Agricultural Credit Rights Certificates (CDCAs)

Resolution No. 5,163

RESOLUTION
CMN No. 5,163, OF AUGUST 22, 2024

Amends Resolution CMN No. 5,118, of February 1, 2024, which provides for the underlying assets for the issuance of Certificates of Receivables of the Agribusiness – CRAs and Real Estate Receivables Certificates – CRIs, to provide for the underlying assets for the issuance of Agricultural Credit Rights Certificates – CDCAs.

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, in a session held on August 22, 2024, based on arts. 3, caput, items I to III, of Law No. 6,385, of December 7, 1976, and 49 of Law No. 11,076, of December 30, 2004,

RESOLVES:

Art. 1 The summary of Resolution CMN No. 5,118, of February 1, 2024, published in the Official Gazette of the Union on February 2, 2024, shall be effective with the following changes:

“Provides for the underlying assets for the issuance of Certificates of Receivables of the Agribusiness – CRAs, Real Estate Receivables Certificates – CRIs, and Agricultural Credit Rights Certificates – CDCAs.” (NR)

Art. 2 Resolution CMN No. 5,118, of February 1, 2024, published in the Official Gazette of the Union on February 2, 2024, shall be effective with the following changes:

“Art. 1 This Resolution provides for the underlying assets of Certificates of Receivables of the Agribusiness – CRAs and Real Estate Receivables Certificates – CRIs, issued by securitization companies, and Agricultural Credit Rights Certificates – CDCAs.” (NR)

“Art. 3 CRAs, CRIs, and CDCAs may not have as underlying assets:

I - ...............................................................................................................................

a) an open company or a party related to the open company, except if the main activity sector of the open company is the real estate sector, in the case of CRIs, or agribusiness, in the case of CRAs and CDCAs; or

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

Sole Paragraph. Emissions and offerings in which the institutions and companies referred to in item I, letters “a” and “b”, of the caput, with the exceptions provided therein, assume or retain any risks and benefits are also prohibited.” (NR)

“Art. 4-A The provisions of art. 3 do not apply to CDCAs that, on a date prior to August 23, 2024, have already been:

I - duly distributed; or

II - the subject of a request for registration of distribution before the Securities and Exchange Commission (Comissão de Valores Mobiliários), in public distribution offerings.

Sole Paragraph. Any extensions of time limits for already distributed CDCAs must comply with the provisions of this Resolution.” (NR)

Art. 3 This Resolution enters into force on the date of its publication.

OTÁVIO RIBEIRO DAMASO
Substitute President of the Central Bank of Brazil