BRZ CB Emergency Rural Credit

On Feb. 7, BRZ CB established drought emergency rural credit line.

  • BRZ CB issued Resolution 5.120 re emergency rural credit line for livestock funding.
  • Authorized the renegotiation of rural credit operations for funding and investment for family farmers and rural producers harmed by drought declared as emergency.
  • Emergency Rural Credit
  • Emergency credit line due to drought in municipalities within a certain region.
  • Region of operation of the Superintendence of Development of Northeast (Sudene).
  • Drought during period from Jul. 1, 2023 until the date of publication of this Resolution.
  • Based on declaration of emergency or state of public calamity recognized by the Federal Executive Branch; funded by Constitutional Financing Fund Northeast (FNE).
  • Effectiveness
  • Resolution 5.120 comes into force on the date of its publication.
  • Mar. 28, 2024 BRZ CB Rural Credit Manual Amendments
  • On Mar. 28, 2024, BRZ CB issued Resolution 5.123 to amend Sections 3 (Investment Credits), 7 (Transitional Rules) of Ch. 3 (Operations) of the Rural Credit Manual (MCR).
  • Financial institutions must use resources for application in rural investment credit operations, observing rules, conditions in force for programs with BNDES resources.
  • Financial institutions, must, under certain conditions, renegotiate up to 100% of the installment principal, due or expired in the period from Jan. 2 to Dec. 30, 2024.
  • Applies to rural investment credit operations re soybean and corn crops and beef and cattle cultivation contracted and in a situation of default until Dec. 30, 2023.
  • Installments to be renegotiated must be corrected by the contractual financial charges, including default as applicable, and installments due from Mar. 28 to Apr. 15, 2024.
  • Date to formalize renegotiation is May 31, 2024, Sec. 7 not applicable to operations.
  • Resolution enters into force on Apr. 15, 2024

Regulators BRZ CB
Entity Types Bank; Corp; IA; Inv Co
Reference Res 5.123, 3/28/2024; Res 5.120, 2/7/2024
Functions BCS; Financial; Operations; Treasury
Countries Brazil
Products Banking; Fund Mgt; Loan; Municipal
Regions Am
Rule Type Final
Rule Date 2/7/2024
Effective Date 4/15/2024
Rule Id 200623
Linked to N/A
Reg. Last Update 3/28/2024
Report Section International

Last substantive update on 04/01/2024