On Dec. 19, BRZ CB amended contracting general conditions, criteria.
BRZ CB CMN issued Resolution 5.197 amending Resolution 4.676 of 2018 on the general conditions and criteria for contracting real estate financing by institutions.
Highlights
The National Monetary Council (CMN) changed conditions for contracting real estate.
It is possible to use real estate as collateral in more than 1 real estate credit operation.
The review of the rule was necessary due to the approval of Law 14.711, of Oct. 2023.
This Law promoted changes to legal framework re mortgages and fiduciary alienation.
The review of CMN Resolution 4.676 regulates aspects re sharing of guarantees to execute new real estate credit operations, especially referring to credit quota limits.
Revocation
Revoked items III, IV, V, VI and VII of heading, para. 2 of Art. 7; para. 5 of Art. 13; para. 2, 3 of Art. 17; Art. 20-A; and Art. 22-A. of Resolution 4.676 of Jul. 31, 2018.
Effectiveness
Resolution 5.197 shall come into force on Jul. 1, 2025.
Regulators
BRZ CB
Entity Types
B/D; Bank; IA; Inv Co; MG Orig; MSB
Reference
PR, Res 5.197, 12/19/2024
Functions
Financial; Operations; Reporting; Risk; Treasury
Countries
Brazil
Category
State
N/A
Products
Banking; Deposits; Forex; Fund Mgt; Loan; Mortgage; Payments
