BRZ CB Agricultural Guarantees

On Feb. 16, BRZ CB updated agriculture guarantee program (Proagro).

  • BRZ CB issued Instruction 353 on procedure for credit cooperatives prior to starting activities in agricultural activity guarantee program and use of bank reserves accounts.
  • Credit cooperative, prior to beginning its activities in Proagro must submit to BRZ CB a term of agreement signed with other financial institution to use bank reserves account.
  • Effectiveness
  • Instruction 353 comes into force on Mar. 1, 2023.
  • Oct. 2023 BRZ CB Update Rural Credit Instructions
  • On Oct. 11, 2023, BRZ CB issued Notice 40.778 on updates to the summary of instructions for beneficiaries of the agricultural activity guarantee program (Proagro).
  • Summary of instructions for Proagro available in rural credit area on BRZ CB website.
  • Adapted to standards related to launch of agricultural and livestock plan 2023/2024.
  • Apr. 2024 BRZ CB Amending Resolutions
  • On Apr. 8, 2024, BRZ CB published CMN resolutions re agricultural activity guarantee program (Proagro), to revise provisions, coverage limits and calculation methods.
  • Issued Resolution 5.125 to adjust proof/records of purchaser inputs planned budget.
  • Resolution 5.126 updates limit for agricultural funding, qualifying resources with same beneficiary and enterprise value included with values in the same year to R$270,000.
  • Also Resolution 5.127 to revise coverage loss limits due to meteorological events.
  • Resolution 5.128 calculation method and limits of the Minimum Income Guarantee.
  • Amending resolutions come in force on Jul. 1, 2024.
  • Jun. 2024 BRZ CB Adjusted Rates
  • On Jun. 28, 2024, BRZ CB issued Resolution 5.148 with adjusted rates for MCR 12-10.
  • Rates apply to the enterprises framed in Proagro including enterprise not cultivated in an agroecological or organic-based production system, product discounts due to hail.
  • On the same day, BRZ issued Resolution 5.147 to adjust rules that are applicable to the fence to the framework of an enterprise with repeated losses with Proagro.
  • Includes enterprises with loss in communication for five years before the year the framework was requested; for 2024/2025 year, certain crops will not be applicable.
  • Communication loss due to flooding/heavy rains will not be computed, rural property independently operated by more than one family unit of production will be framed.
  • Res 5.148 will enter into force on the date of publication; Res 5.147 on Jul. 30, 2024.

Regulators BRZ CB
Entity Types Bank; CU
Reference Res 5.147, Res 5.148, 6/28/2024; Res 5.125, Res 5.126, Res 5.127, Res 5.128, 4/8/2024; Nt 40.778, 10/11/2023; Ins 353, 2/16/2023
Functions Financial; Operations; Reporting; Treasury; Underwriting
Countries Brazil
Products Banking; Deposits; Loan
Regions Am
Rule Type Final
Rule Date 2/16/2023
Effective Date 7/30/2024
Rule Id 163731
Linked to N/A
Reg. Last Update 6/28/2024
Report Section International

Last substantive update on 07/03/2024