Brazil: Central Bank
2011/04/26
The Banco Central do Brasil (BCB) is an autonomous federal institution and part of the Ministry of Finance. Its mission is to ensure the stability of the purchasing power of money, by inflation control, and a solid and an efficient financial system. It was created by Law n. 4,595 of December 31st, 1964.
Among the main functions of the Banco Central, one can highlight the conduction of the policies regarding monetary affairs, foreign exchange, credit and foreign financial operations; the regulation and supervision of institutions that compose the National Financial System (SFN) as well as the management of the payment system and of money supply (money that circulates in the economy).
One of the most important attributions of the Banco Central is to control annual inflation in Brazil, so that it stays within the limits set by the National Monetary Council (CMN), an interval around the so-called inflation target.
The Banco Central do Brasil (BCB) also acts as CMN Executive Secretary and divulges to the public the resolutions of the Council, which are basic rules of operation of the Brazilian economy and the SFN.
The Banco Central has unique and exclusively financial relationship with institutions. It is important to notice that the Banco Central is not a commercial bank and, therefore, neither opens deposit or savings accounts, nor does it offer loans or finance, operations that are conducted by financial institutions with companies or individuals, who are their account holders or customers.
The Banco Central is also responsible for overseeing various types of financial institutions: multiple banks, commercial banks, investment banks, development banks, savings banks, credit unions, credit companies, finance and investment, exchange brokerage companies, brokers and securities corporate credit companies, securities regulatory authorities and consortium securities distributers.
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IMF Data & Forecasts
2011/08/10 2010 2015 Scale Units GDP at constant prices 1434.44 1753.60 Billions
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