Deadline for renegotiating rural credit in Rio Grande do Sul is extended until October 15

The National Monetary Council (CMN) published today (16) Resolution No. 5.173 authorizing financial institutions to automatically extend, until October 15, the due date for installments and interest on rural credit operations for financing, investment and industrialization in municipalities in the state of Rio Grande do Sul affected by floods, inundations, heavy rains, downpours, gales, landslides or floods.  

The measure applies to principal and interest installments of rural credit operations due or falling due between May 1 and October 14, 2024.  

The CMN decision also includes the extension of the deadline for requesting debt extensions, also until October 15, for borrowers with income loss equal to or greater than 30%, who do not meet the criteria for discounts provided for in Decree No. 12.138.  

Finally, the Resolution also authorized financial institutions to extend, from October 15 to the 30th of the same month, credit operations with controlled resources, whose rural credit installments are due or due between May 1 and October 29, 2024. 

With the new deadlines, rural producers who have suffered losses will not be in default and will have more time and peace of mind to request the discounts provided for in Decree No. 12.138/2024; the renegotiation provided for in item 13 of the Rural Credit Manual (MCR), introduced by CMN Resolution No. 5.164/2024; and credit operations with resources from the Social Fund, as dealt with in CMN Resolution No. 5.172/2024.