Resolution CMN No. 5,164 of August 22, 2024

Monetary Council National

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

RESOLUTION CMN NO. 5,164, OF AUGUST 22, 2024

Amends Section 7 (Transitional Rules) of Chapter 3 (Operations) of the Rural Credit Manual – MCR to authorize the renegotiation of rural credit operations in municipalities of the state of Rio Grande do Sul affected by floods, waterlogging, heavy rains, flash floods, gales, landslides, or inundations.

The Central Bank of Brazil, in accordance with Article 9 of Law No. 4,595, of December 31, 1964, makes public that the Monetary Council National, in a session held on August 22, 2024, based on Articles 4, caput, item VI, of Law No. 4,595, of December 31, 1964, Articles 4 and 14 of Law No. 4,829, of November 5, 1965, and Articles 5 and 6 of Law No. 10,186, of February 12, 2001,

R E S O
L V E U :

Art.
1º Section 7 (Transitional Rules) of Chapter 3 (Operations) of the Rural Credit Manual – MCR shall enter into force with the following amendments:

“13 - Financial institutions are authorized, at their discretion, to extend the value of principal and interest installments of rural credit operations for funding, investment, and industrialization that have a due date within the period from May 1 to December 31, 2024, provided that the operation was contracted by April 15, 2024, and with the release of resources to the borrower, total or partial, prior to May 1, 2024, of enterprises located in municipalities of the state of Rio Grande do Sul, with a declaration of emergency or state of public calamity recognized by the federal government by July 31, 2024, due to floods, waterlogging, heavy rains, flash floods, gales, landslides, or inundations occurring from April 1 to May 31, 2024, carried out with controlled resources, observing the following conditions:

a) the loss of expected income from the financed enterprise or rural establishment is equal to or greater than 30% (thirty percent);

b) the installments of funding and industrialization operations with a due date within the period from May 1 to December 31, 2024, may be extended for up to four years, with the first installment due in 2025, maintaining the other contractual conditions, and the 2025 installment may be lower than the others;

c) the principal and interest installments of investment operations with a due date from May 1 to December 31, 2024, may be extended for up to twelve months after the date scheduled for the contract’s maturity, maintaining the other contractual conditions;

d) the sources of resources used for the credit operation may be maintained, and the provisions set forth in MCR 2-6-5, MCR 10-1-25, and MCR 11-1-4 do not apply;

e) the credit operation must be in a state of compliance as of April 30, 2024;

f) subject to the provisions of this item, renegotiation of operations covered by the Agricultural Activity Guarantee Program – Proagro or covered by another rural insurance modality is admitted, upon exclusion of the value related to the indemnity received by the borrower; and

g) borrowers must request the extension from the financial institution by September 13, 2024.” (NR)

“14 - Financial institutions are authorized, at their discretion, to automatically extend the due date of principal and interest installments of rural credit operations for funding, investment, and industrialization, due or due within the period from May 1 to October 14, 2024, to October 15, 2024, observing the following conditions, cumulatively:

a) the operations must meet the criteria for obtaining the discounts referred to in Articles 2, 3, and 4 of Decree No. 12,138, of August 12, 2024;

b) the borrower must have formalized the discount request in accordance with Decree No. 12,138, of August 12, 2024;

c) the operations must be corrected by normal contractual charges, and the source of resources may be maintained, dispensing with the formalization of an amendment; and

d) operations with controlled resources must be in a state of compliance as of April 30, 2024.” (NR)

Art. 2º This Resolution enters into force on the date of its publication.

OTÁVIO RIBEIRO DAMASO
Substitute President of the Central Bank of Brazil