BCB announced that the Financial Stability Committee decided to maintain the countercyclical capital buffer (CCyB) for Brazil at 0%, at least until the end of 2021. In a separate development, BCB reduced the number of rules on rural credit and Proagro (rural credit insurance). In particular, 1,692 "normative commands" contained in the Rural Credit Manual (MCR) were consolidated into 779. Another 376 normative commands were revoked. The action is part of a policy that applies to the entire Public Administration, with the objective of rationalizing and simplifying infra-legal regulation (norms with a hierarchy below the decree, such as ordinances, resolutions, normative instructions, among others). The action is being conducted in five phases. The third phase ended on May 31, the next phase runs from June 01 to August 31, and the last phase runs from September 01 to November 30 of this year.
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Keywords: Americas, Brazil, Banking, CCyB, Regulatory Capital, Rural Credit, Credit Risk, Basel, Macro-Prudential Policy, BCB
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