Central Bank of Brazil

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Central Bank of Brazil
Banco Central do Brasil
Banco Central Do Brasil.svg
Edifício sede do Banco Central do Brasil (16011635094).jpg
Headquarters
HeadquartersBrasília, Federal District, Brazil
Coordinates15°48′11″S 47°53′08″W / 15.80306°S 47.88556°W / -15.80306; -47.88556Coordinates: 15°48′11″S 47°53′08″W / 15.80306°S 47.88556°W / -15.80306; -47.88556
EstablishedDecember 31, 1964
Ownership100% state ownership[1]
PresidentRoberto Campos Neto
Central bank ofBrazil
CurrencyBrazilian real
BRL (ISO 4217)
Reserves348 860 million USD[1]
Bank rate2.00%[2]
Websitewww.bcb.gov.br

The Central Bank of Brazil (Portuguese: Banco Central do Brasil) is Brazil's central bank. It was established on December 31, 1964.

The bank is not linked to any ministry, currently being autonomous. Like other central banks, the Brazilian central bank is the principal monetary authority of the country. It received this authority when it was founded by three different institutions: the Bureau of Currency and Credit [pt] (SUMOC), the Bank of Brazil (BB), and the National Treasury [pt].

One of the main instruments of Brazil's monetary policy is the Banco Central do Brasil's overnight rate, called the SELIC rate.[3] It is managed by Monetary Policy Committee (COPOM) of the bank.[4]

The bank is active in promoting financial inclusion policy and is a leading member of the Alliance for Financial Inclusion. It is also one of the original 17 regulatory institutions to make specific national commitments to financial inclusion under the Maya Declaration.[5] during the 2011 Global Policy Forum in Mexico.

Since February 24, 2021 it is independent from Federal Government.

Independence of Central Bank[edit]

On November 3, 2020, the bill of the Independence of Central Bank passed the Senate, by 56 votes to 12.[6][7]

And on February 10, 2021, in the Chamber of Deputies was approved by 339 votes in favor and 114 against without changes, going to President Jair Bolsonaro's sanction, generating Complementary Law No. 179 of February 24, 2021.[8][9]

With Complementary Law No. 179 of February 24, 2021, it became autonomous, in addition to gaining a new organizational structure.[10][11]

Presidents[edit]

The most recent presidents of the bank have been:[12]

See also[edit]

References[edit]

  1. ^ a b https://d-nb.info/1138787981/34
  2. ^ https://www.bcb.gov.br
  3. ^ Global, IndraStra. "The Central Bank of Brazil Maintains Selic Rate at 6.5%". IndraStra. ISSN 2381-3652.
  4. ^ "Banco Central do Brasil". www.bcb.gov.br. Retrieved 2018-06-23.
  5. ^ http://www.prnewswire.com/news-releases/maya-declaration-urges-financial-inclusion-for-worlds-unbanked-populations-130887928.html
  6. ^ "Autonomia do BC: Senado aprova PLP 19/2019 e matéria segue para a Câmara | SINAL - Sindicato Nacional dos Funcionários do Banco Central".
  7. ^ "Senado aprova projeto de lei que dá autonomia ao Banco Central - Migalhas". 4 November 2020.
  8. ^ "Câmara aprova projeto de autonomia do Banco Central por 339 votos a 114".
  9. ^ "Câmara aprova texto-base da autonomia do Banco Central". 10 February 2021.
  10. ^ "Bolsonaro sanciona lei que estabelece a autonomia do Banco Central; veja detalhes".
  11. ^ "Bolsonaro sanciona projeto que dá autonomia ao Banco Central". 24 February 2021.
  12. ^ Galeria de ex-presidentes do Banco Central do Brasil, BCB, Accessed 18 November 2018

External links[edit]