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 / 15.803083°S 47.885510°W / -15.803083; -47.885510Coordinates: 15°48′11″S 47°53′08″W / 15.803083°S 47.885510°W / -15.803083; -47.885510
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  [pt] (SUMOC), the Bank of Brazil (BB), and the  [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[]

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[]

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

  • : 12 April 1965 - 21 March 1967
  • : 31 March 1967 - 12 February 1968
  • : 8 February 1968 - 20 February 1968
  • : 21 February 1968 - 15 March 1974
  • : 15 March 1974 - 14 March 1979
  • Carlos Brandão: 15 March 1979 - 17 August 1979
  • : 17 August 1979 - 18 January 1980
  • Carlos Geraldo Langoni: 18 January 1980 - 5 September 1983
  • Affonso Celso Pastore: 5 September 1983 - 14 March 1985
  • : 15 March 1985 - 28 August 1985
  • : 28 August 1985 - 11 February 1987
  • : 11 February 1987 - 30 April 1987
  • : 30 April 1987 - 4 May 1987
  • : 5 May 1987 - 9 March 1988
  • : 9 March 1988 - 22 June 1989
  • : 23 June 1989 - 14 March 1990
  • : 15 March 1990 - 17 May 1991
  • : 17 May 1991 - 16 November 1992
  • : 13 November 1992 - 29 March 1993
  • Paulo César Ximenes: 26 March 1993 – 9 September 1993
  • Pedro Malan: 9 September 1993 – 31 December 1994
  • Gustavo Franco: 31 December 1994 – 11 January 1995 (interim)
  • Pérsio Arida: 11 January 1995 – 13 June 1995
  • : 13 June 1995 – 20 August 1997
  • Gustavo Franco: 20 August 1997 – 4 March 1999
  • Arminio Fraga: 4 March 1999 – 1 January 2003
  • Henrique Meirelles: 1 January 2003 – 31 December 2010
  • Alexandre Tombini: 1 January 2011 – 9 June 2016
  • Ilan Goldfajn: 9 June 2016 – 28 February 2019
  • Roberto Campos Neto: 28 February 2019 – present

See also[]

References[]

  1. ^ Jump up to: 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. ^ https://portal.sinal.org.br/publicacoes/autonomia-do-bc-senado-aprova-plp-19-2019-e-materia-segue-para-a-camara/
  7. ^ https://www.migalhas.com.br/quentes/335864/senado-aprova-projeto-de-lei-que-da-autonomia-ao-banco-central
  8. ^ https://valor.globo.com/google/amp/politica/noticia/2021/02/10/camara-aprova-projeto-de-autonomia-do-banco-central-por-339-votos-a-114.ghtml
  9. ^ https://www.poder360.com.br/economia/camara-aprova-texto-base-da-autonomia-do-banco-central/
  10. ^ https://g1.globo.com/politica/noticia/2021/02/24/bolsonaro-sanciona-lei-que-estabelece-a-autonomia-do-banco-central-veja-detalhes.ghtml
  11. ^ https://agenciabrasil.ebc.com.br/politica/noticia/2021-02/bolsonaro-sanciona-lei-que-da-autonomia-ao-banco-central
  12. ^ Galeria de ex-presidentes do Banco Central do Brasil, BCB, Accessed 18 November 2018

External links[]


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