Follows prior BRZ CB modifications and updates to the MCR, see #145282.
Document 6 Reporting
Resolution 5.149 provides for adjustments to the general rules for rural credit, as well as the National Support Program for Medium-Sized Rural Producers (Pronamp).
Resolution 5.150 changed name and rules of Chapter 11 re BRZ NDES programs.
Resolution 5.151 adjusted standards to be applied to rural credit operations contracted within the scope of the National Program for Strengthening Family Farming (Pronaf).
Through Resolution 1.152, BRZ CB made adjustments to the requirements set forth in Section 2 (Funding Credits) of Chapter 3 (Operations) of the rural credit manual.
Resolution 1.153 adjusted financial charges and credit limits for certain credit lines as well as programs and methodology for calculating Rural Credit Interest Rates (TCR).
Resolution 5.155 established financial charges for rural financing with resources from the Constitutional Financing Funds, as set out in various sections of the MCR.
Resolution 5.157 established additional requirement for application in rural credit on cash resources for the compliance period starting Jul. 1, 2024 to Jun. 30, 2025.
Revoked the percentage requirement on cash resources referred to in MCR 6-2-3-A.
Additionally revoked provisions of Resolution 5.119 of Feb. 2024 re to rules applicable to rural credit operations with resources from the agribusiness letter of credit.
Effectiveness
Resolutions come into force on date of publication, or Jan. 2, 2025 if so indicated.
Jul. 24, 2024 BRZ CB MCR Updates
On Jul. 24, 2024, BRZ CB issued Instruction 492 re MCR Form 2, loss communication (COP), Form 3, proof of loss report (RCP), Form 4, judgment and review summary.
Instruction 492 shall come into force on the date of its publication.
Also issued Resolution 5.160 issued on allocation of funds raised via issuance of agribusiness letter of credit - LCA (MCR 6-7) in operations subject to BRZ subsidy.
Finally, issued Resolution 5.158 to establish transitional rule re social, environmental and climatic impediments, referred to in MCR 2-9, due to impacts of catastrophe.
Impact on the registration of information related to the Rural Environmental Registry of properties located in the state of Rio Grande do Sul, and establish embargoes rules.
Rules applicable to embargoes by environmental agencies for properties occupied by agrarian reform settlements or by traditional populations and communities.
Instruction and Resolution 5.160 shall come into force on the date of publication.
Resolution 5.158 shall come into force on Aug. 30, 2024.
Aug. 22, 2024 BRZ CB MCR Update
On Aug. 22, 2024, BRZ CB published Resolution 5.170 to adjust the weighting factor.
Applies to costing operations per National Program for Strengthening Family Farming.
To comply with Pronaf, the average daily balance of financing operations, contracted as of Jul. 1, 2024, must be computed by multiplying it by 1.37, as outlined in MCR 7-6.
They are contracted with a fixed effective interest rate of up to three percent per year.
Also, published Resolution 5.165 to adjust Section 9, Chapter 4 of the MCR.
Added purchasers and premium definitions; set the additional margin of up to 20%.
On the same day, BRZ CB issued Resolution 5.164 to amend Section 7, Chapter 3 of the MCR, re value of installments of principal, interest of rural credit operations.
Installation values extended that have maturity dates from May 1 to Dec. 31, 2024.
Borrowers must request the extension to the financial institution until Sep. 13, 2024.
Financial institutions authorized to extend, to Oct. 15, 2024, maturity of principal and interest installments of rural credit operations due between May 1 and Oct. 14, 2024.
Foregoing operations must meet the criteria for obtaining the discounts, and have formalized request for the discount referred to in Decree 12.138 of Aug. 12, 2024.
Additionally, operations must be corrected for the contractual charges of normality, and the source of appeal may be maintained, and formalization of an additive is waived.
Operations with controlled resources must also be in default on Apr. 30, 2024.
Resolutions 5.170, 5.164 and 5.165 come into effect on the date of their publication.
Aug. 30, 2024 BRZ CB MCR Updates
On Aug. 30, 2024, BRZ CB issued Instruction 510 to make amendments to Document 6 (statement of rural credit liabilities and applications) of Rural credit manual (MCR).
Update Annex I, Instructions and Concepts, Mandatory Resource Codes - MCR 6-2.
Also, Annex I, Rural Savings Resource Codes - MCR 6-4, Agribusiness Credit Letter Resource Codes - MCR 6-7; Annex IX, Codes of Cash Resources - Additional Demand.
Instruction 510 shall come into force on the date of its publication, Sep. 2, 2024.
Sep. 2024 BRZ CB MCR Updates
On Sep. 3, 2024, BRZ CB issued Instruction 518 to amend Instruction 492 of Jul 2024.
Instruction 518 made modifications to the formulas in Rural credit manual (MCR).
Formulas in document 4 (summary of judgment and review of coverage request).
Instruction 518 shall come into force on the date of its publication.
Sep. 13, 2024 BRZ CB MCR Update
On Sep. 13, 2024, BRZ CB published Resolution 5.173 re transitional rules of MCR.
Changed Section 7, Transitional Rules of Chapter 3, Operations of the MCR to allow rural credit operations renegotiations in Rio Grande do Sul (RS) municipalities.
Those municipalities affected by floods, heavy rains, downpours, gales, or landslides.
Financial institutions authorized to extend maturity of installments until Oct. 15, 2024.
Apply to operations issued by companies in RS due between May 1 and Oct. 14, 2024.
Borrowers must request the extension from the financial institution by Oct. 15, 2024.
Resolution 5.173 comes into force on the date of its publication.
On Sep. 26, 2024, BRZ CB reported updates to the Rural Credit Manual, see #227628.
Oct. 23, 2024 BRZ CB MCR Update
On Oct. 23, 2024, BRZ CB issued Resolution 5.181 to amend Section 7 of Chapter 3 of the MCR to authorize renegotiation of rural credit in Rio Grande do Sul (RS) State.
An automatic extension for financial institutions is authorized until Nov. 27, 2024.
Maturity of principal and interest installments of rural credit operations for financing, investment, and industrialization, due or falling due between May 1 and Nov. 26, 2024.
Operations must meet the criteria to get discounts in Decree 12.138 and forward the request to the Special Commission for Analysis of Rural Credit of Rio Grande do Sul.
Borrower must have formalized discount request under terms of Decree 12.138.
Operations with controlled resources must be in good standing on Apr. 30, 2024.
If a discount request is rejected, borrowers may opt for renegotiation in item 13.
As long as they request an extension from the financial institution until Nov. 26, 2024.
Resolution 5.181 comes into force on the date of its publication.
Regulators
BRZ CB
Entity Types
Bank; CU; Thrift
Reference
Res 5.181, 10/23/2024; Res 5.173, 9/13/2024; Ins 518, 9/3/2024, Ins 510, 9/30/2024; Res 5.164, Res 5.170, Res 5.165, 8/22/2024; Ins 492, Res 5.160, Res 5.158, 7/24/2024; Res 5.149, 5.150, 5.151, 5.152, 5.153, 5.155, 5.157, Rpl, 7/3/2024
