Resolution CMN No. 5140 — Establishes conditions, financial charges, deadlines, and other regulatory norms for financing lines under Article 47-A of Law No. 12,351 of December 22, 2010

RESOLUTION CMN NO. 5,140, OF JUNE 5, 2024

Establishes the conditions, financial charges, deadlines, and other regulatory norms for the financing lines referred to in Article 47-A of Law No. 12,351, of December 22, 2010.

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 5, 2024, based on the provisions of Article 47-A, §§ 4 and 5, of Law No. 12,351, of December 22, 2010,

RESOLVES:

Art. 1 The financing lines with the purpose of supporting actions to mitigate and adapt to climate change and to address the social and economic consequences of public calamities, in accordance with Article 65 of Complementary Law No. 101, of May 4, 2000, using resources from the financial surplus of the Social Fund – FS, including the principal, shall be granted by the National Bank for Economic and Social Development – BNDES, or by financial institutions authorized by it, which will assume the risks of the operations, including credit risk, and shall be intended for legal and natural persons located in a federative entity in a state of public calamity recognized by the National Congress, in accordance with Article 65 of Complementary Law No. 101, of May 4, 2000, and by the Federal Executive, and that have suffered material losses in areas effectively affected by extreme climate events, according to the georeferenced delimitation established in an act of the Ministry of Finance. (Amended by Resolution CMN No. 5,142, of 6/26/2024.)

Art. 2 The following conditions apply to the financing lines referred to in Article 1:

I - financial charges to borrowers, as remuneration for financial institutions: (Amended by Resolution CMN No. 5,156, of 7/3/2024.)

a) of BNDES:

1. in direct operations: up to 5% p.a. (five percent per year); and

2. in indirect operations: up to 1.5% p.a. (one and five-tenths percent per year); and

b) of the financial institution operator authorized by BNDES, in indirect operations: up to 4.5% p.a. (four and five-tenths percent per year);

II - financial charges to borrowers, as remuneration to the FS: (Amended by Resolution CMN No. 5,156, of 7/3/2024.)

a) for the purpose of working capital:

1. 4% p.a. (four percent per year) when it concerns operations with a beneficiary who has annual income or Gross Operating Revenue – ROB of up to R$300,000,000.00 (three hundred million reais); and

2. 6% p.a. (six percent per year) when it concerns operations with a beneficiary who has annual income or ROB exceeding R$300,000,000.00 (three hundred million reais); and

b) for the purpose of investment projects, acquisition of machinery and equipment, construction materials, or related services: 1% p.a. (one percent per year) for all beneficiaries;

III - maximum financing value per borrower:

a) for working capital:

1. up to R$50,000,000.00 (fifty million reais) when it concerns operations with a beneficiary who has annual income or ROB of up to R$300,000,000.00 (three hundred million reais); and

2. up to R$400,000,000.00 (four hundred million reais) when it concerns operations with a beneficiary who has annual income or ROB exceeding R$300,000,000.00 (three hundred million reais);

b) for the purpose of investment projects: up to R$300,000,000.00 (three hundred million reais) for all beneficiaries; and

c) for the purpose of isolated acquisition of machinery and equipment, construction materials, and related services: up to R$300,000,000.00 (three hundred million reais) for all beneficiaries; and

IV - repayment term:

a) for the purpose of working capital, isolated acquisition of machinery and equipment, construction materials, and related services: up to sixty months, including up to twelve months of grace period; and

b) for the purpose of investment projects: up to one hundred and twenty months, including up to twenty-four months of grace period.

Sole Paragraph. The financial charges referred to in this article may be capitalized or paid during the grace period.

Art. 3 The financing contract to be signed between legal persons that borrow resources from the financing lines referred to in Article 1 and the financial institution must include a commitment clause, valid for at least one hundred and twenty days from the date of contracting, to maintain or increase the number of jobs existing prior to the public calamity.

§ 1 The initial reference shall be the number of employees of the borrower's establishment located in the affected municipality in the month prior to the recognition of the state of public calamity by the National Congress, in accordance with Article 65 of Complementary Law No. 101, of May 4, 2000, and, as the final reference, at least the fourth month following the date of contracting the line.

§ 2 The information regarding the number of employees, as provided in § 1, shall be determined based on the data made available to the National Bank for Economic and Social Development – BNDES by the Ministry of Labor and Employment, through the General Register of Employees and Unemployed – Caged or, alternatively, by the Digital Bookkeeping System for Fiscal, Social Security, and Labor Obligations – eSocial, in accordance with current legislation and technical criteria defined in an act published by said Ministry. (Amended by Resolution CMN No. 5,239, of 8/22/2025.)

§ 3 Failure to comply with the commitment referred to in the caput, to be assessed at the end of the twelfth month and at the end of the sixteenth month from the date of contracting, shall imply the substitution of the financial charges to borrowers, defined in Article 2, caput, item II, by charges calculated based on the average reference rate of the Special Settlement and Custody System – Selic Rate, or another that may replace it, observing the following rules: (Amended by Resolution CMN No. 5,217, of 5/22/2025.)

I - in the event of non-compliance assessed at the end of the twelfth month from the date of contracting, the substitution of the financial charges to borrowers shall apply only to installments subsequent to the date of assessment; and (Added by Resolution CMN No. 5,217, of 5/22/2025.)

II - in the event of non-compliance assessed at the end of the sixteenth month from the date of contracting, the substitution of the financial charges to borrowers shall occur retroactively. (Added by Resolution CMN No. 5,217, of 5/22/2025.)

§ 4 BNDES shall send to the Ministry of Finance, semiannually, by official letter or electronic mail, the information regarding the non-compliance with the clause referred to in the caput. (Amended by Resolution CMN No. 5,291, of 4/16/2026.)

Art. 4 The financing lines referred to in Article 1 are restricted to financing applications filed with BNDES regarding the following borrowers located in a federative entity in a state of public calamity recognized by the National Congress, in accordance with Article 65 of Complementary Law No. 101, of May 4, 2000, and observing the georeferenced delimitation referred to in Article 1: (Amended by Resolution CMN No. 5,142, of 6/26/2024.)

I - private legal entities, with headquarters or branch located in the entity referred to in the caput;

II - natural persons residing and domiciled in the entity referred to in the caput who carry out economic activity in the agricultural, forestry production, fishing, aquaculture sectors, including directly related services;

III - autonomous cargo transporters and natural persons associated with a road cargo transport cooperative, both residing and domiciled in the entity referred to in the caput; and

IV - individual entrepreneurs residing and domiciled in the entity referred to in the caput.

Sole Paragraph. (Revoked by Resolution CMN No. 5,142, of 6/26/2024.)

§ 1 The georeferenced delimitation referred to in Article 1 does not apply to public service concessionaires and to borrowers referred to in item III of the caput. (Added by Resolution CMN No. 5,142, of 6/26/2024.)

§ 2 Financing applications filed with BNDES up to twelve months from the recognition, by the National Congress, of the state of public calamity may be covered by the conditions established in this Resolution. (Added by Resolution CMN No. 5,142, of 6/26/2024.)

§ 3 The georeferenced delimitation referred to in Article 1 does not apply to working capital operations when contracted by rural producers, agricultural production cooperatives, cereal companies, and agricultural input suppliers, who fall under items I or II of the caput, respecting the maximum value per borrower referred to in Article 2, caput, item III, letter “a”, observing that financing for: (Added by Resolution CMN No. 5,172, of 9/9/2024.)

I - rural producers referred to in § 3, are conditioned to: (Added by Resolution CMN No. 5,172, of 9/9/2024.)

a) the agricultural establishments being located in the municipalities of the state of Rio Grande do Sul, with a decree of emergency situation or state of public calamity recognized by the federal government from April 26 to July 31, 2024, due to floods, inundations, heavy rains, flash floods, gales, landslides, or inundations; (Added by Resolution CMN No. 5,172, of 9/9/2024.)

b) the loss of expected income from the establishment's production being equal to or greater than 30% (thirty percent), due to the climate phenomena referred to in item I, letter “a”, of § 3, upon presentation of a technical report signed by a qualified technical professional; and (Added by Resolution CMN No. 5,172, of 9/9/2024.)

c) the credit limit considering all operations contracted, in one or more financial institutions, and not exceeding the sum of the installments, due and future, in 2024 and 2025, owed by the borrower regarding rural credit operations, rural product certificates – CPRs, and other debts linked to rural production with production cooperatives, cereal companies, and agricultural input suppliers, updated by contractual charges up to the date of contracting the credit operation; (Added by Resolution CMN No. 5,172, of 9/9/2024.)

II - agricultural production cooperatives, cereal companies, and agricultural input suppliers, are conditioned to: (Added by Resolution CMN No. 5,172, of 9/9/2024.)

a) being located in the municipalities referred to in item I, letter “a”; (Added by Resolution CMN No. 5,172, of 9/9/2024.)

b) presenting a declaration on the need for credit for the continuity of operations, indicating difficulty in receiving values due from rural producers in financial and commercial operations; (Added by Resolution CMN No. 5,172, of 9/9/2024.)

c) allocating, at least, 70% (seventy percent) of the value of the financing contracted in this credit line to refinance the debts contracted by rural producers included in item I, letter “a”, observing the same conditions as the credit obtained; (Added by Resolution CMN No. 5,172, of 9/9/2024.)

d) presenting proof of the formalization of the renegotiation of the original debt with the rural producers; and (Added by Resolution CMN No. 5,172, of 9/9/2024.)

e) that the debts of the rural producers mentioned in letter “c” of this item correspond to the sum of the due and future installments subject to renegotiation, updated by normal contractual charges up to the date of contracting the renegotiation operation; or (Added by Resolution CMN No. 5,172, of 9/9/2024.)

III - agricultural production cooperatives of family farming that act in the industrialization and transformation of agricultural products, except grains, and that have an active Declaration of Aptitude to the National Program for Strengthening Family Agriculture – DAP Legal Entity or a valid Registration of Enrollment in the National Register of Family Agriculture – RICAF, are not subject to the conditions established in items II and III, provided that: (Added by Resolution CMN No. 5,172, of 9/9/2024.)

a) they are located in the municipalities referred to in item I, letter “a”, and have more than 70% (seventy percent) of their members located in these municipalities; (Added by Resolution CMN No. 5,172, of 9/9/2024.)

b) at least, 30% (thirty percent) of the production expected to be benefited, processed, or commercialized in the months of April and May 2024 has been lost, has not been commercialized by the cooperatives, or has not been delivered by the members to the cooperative due to floods, inundations, heavy rains, flash floods, gales, landslides, or inundations; and (Added by Resolution CMN No. 5,172, of 9/9/2024.)

c) presenting a declaration on the minimum percentage of loss or economic damage and the need for credit for the continuity of operations. (Added by Resolution CMN No. 5,172, of 9/9/2024.)

§ 4 BNDES may establish criteria and procedures for the operationalization of what is established in § 3, including regarding repayment deadlines, which may be extended by up to thirty-six months when it concerns cooperatives and rural producers. (Added by Resolution CMN No. 5,172, of 9/9/2024.)

Art. 5 This Resolution enters into force on the date of its publication.

ROBERTO DE OLIVEIRA CAMPOS NETO
President of the Central Bank of Brazil