CMN changes Proagro regulation and registration of procedures in Sicor

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The National Monetary Council (CMN) published this Thursday, 29, CMN Resolution No. procedures in the Rural Credit and Proagro Operations System (Sicor) after the deadlines set out in the regulations.

The rule, which will come into force on January 2, 2023, determines that the Proagro agent is responsible for monitoring and inspecting the operations included in the program and reinforces the autonomy of choice of the procedures used by the agent, provided that the effectiveness of the procedures is observed. procedures adopted and that the criteria and methods applied are consistent, verifiable and subject to evaluation by the Central Bank (BC).

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The measure also adjusts the period for analysis and judgment of the request for coverage by the Proagro agent from 45 to 90 calendar days. According to the CMN, the current period of 45 working days has proved to be insufficient, considering the limitation of contingency plans to expand the structures of agents that process coverage requests in events of large losses.

The rule also simplifies procedures in the event of an increase in the volume of coverage requests, much greater than the agent’s operational capacity, or other exceptional situations not attributable to the agent, which prevent the regular processing of coverage requests.

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“In these cases, the regulatory adjustment will allow the agent to complete the analysis and judgment of the coverage request and make the corresponding registrations at Sicor after the respective regulatory deadlines, without the need for prior authorization from the BC”, informed the CMN.

The council also published CMN Resolution No. 5,040, which improved the presentation of the tables of basic additional rates to qualify a project in Proagro. The purpose of this regulation, which enters into force on the date of its publication, is to avoid any difficulties in interpretation by agents in defining the rate applicable to Proagro’s frameworks.

Source: CNN Brasil

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