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Global institutions have been looking for tools to alleviate food insecurity for years. COVID-19 and the conflict in Ukraine have exacerbated the situation, necessitating the mobilization of additional financial resources. This article focuses on financing instruments that can alleviate food insecurity by promoting financing in the pre-harvest phase, particularly crop receipts. Crop receipts recently attracted attention from international financial institutions, responding to inquiries from domestic policymakers about tools to increase access to credit for farmers. Crop receipts legislation has been enacted in Brazil, Ukraine, and Serbia, and several States are considering the enactment of such legislation. This article analyses the interaction of crop receipts with secured transactions and warehouse receipts legislation as well as regulatory frameworks applicable to banking, commodity exchanges, and capital markets. Guidance for those States contemplating enactment of crop receipts legislation is necessary to produce coherent secured transactions and warehouse receipts regimes and to forestall any approaches that might thwart their modernization along the lines of existing and emerging international standards. This article sheds light on the aspects of crop receipts finance for which guidance should be provided. It proposes that such guidance be included in the Agricultural Legal Financing Guide, which has been approved by the Governing Council of the International Institute for Unification of Private Law for the 2023–5 Work Programme. [ABSTRACT FROM AUTHOR]

This study investigates the relation between the types of collateral offered in rural loans in Brazil and the access to credit, loan conditions and default rates. We use a proprietary database of rural loans from one of the largest private banks in Brazil containing more than 110 thousand loan observations. Our results show that the use of fiduciary lien improves the access to loans for more opaque borrowers (i.e., those with shorter relationship with the bank). This type of collateral gives the bank the ability to seize collateral quicker, reducing loss given default, even if these borrowers are riskier, given that they present higher default rates on average. Our results also show that loan conditions are less restrictive as relationship length increases, and that this effect is more intense among loans collateralized by fiduciary lien. [ABSTRACT FROM AUTHOR]

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(2021) 36 J.I.B.L.R., Issue 1 © 2020 Thomson Reuters and Contributors N-2 Journal of International Banking Law and Regulation The Convention has been drawn up over the past few months by the registrars themselves, under the supervision of the regulator. News Section N-1 News Section Brazil COVI D-19 The Mini Reform of the Ports Act in Brazil Ports Act On 24 August 2020, Federal Law No.14,047 was enacted, which, among The mini reform of the Ports Act other measures, provides for temporary measures to address the Covid-19 in Brazil pandemic in the port sector. [Extracted from the article]

In December 2003, the Brazilian Congress passed a law that led to a natural personal lending experiment. The law allows banks to offer loans with repayment through automatic payroll deduction, which, in effect, turns future income into collateral. We estimate the impact of the new law using auto loans as a control group. The law has caused a reduction in interest rates and an increase in the volume of personal credit. [ABSTRACT FROM AUTHOR]

The article reviews developments related to the international secured transactions and insolvency in 2009 for countries such as Brazil, Spain, Russia and the U.S. It notes that Labor Courts in various countries usually apply the law for the protection of their employees but are faced with limitations to their jurisdiction. It adds that recent amendments to the Insolvency Law takes account on certain provisions of the respective legislation of foreign and developed countries.