Many people do not know that the central bank is an independent entity or linked to the State, and is not the same as the Banco do Brasil. The Central Bank's role is to manage economic policy, that is, to guarantee the stability and purchasing power of each country's currency and the financial system as a whole.
But what is the Central Bank?
Let's go: The Central Bank of Brazil is responsible for controlling the amount of money circulating in the country, available credit, interest rates and how the economy is doing – among other actions linked to the financial system.
When was the Central Bank created?
It was created on December 31, 1964 by Law No. 4,595. The Central Bank, like other central banks in the world, is one of the main monetary authorities in the country, the main one being the National Monetary Council (CMN). The BC received this authority from 3 different institutions: the Superintendence of Currency and Credit (SUMOC), the Banco do Brasil (BB), and the National Treasury.
What are the main products of the Central Bank?
Other activities of the Central Bank also have an impact on our pockets, but we don't always notice this so clearly. Did you know that one of the main functions of the Central Bank is to control inflation? Well, we'll explain in more detail how this works below.
The Central Bank of Brazil (BCB) is responsible for regulating and supervising the entire National Financial System (SFN). This is a huge responsibility that has immediate repercussions on our lives, influencing factors such as prices, credit and foreign currency trading.
The skills of the BACEN There are several, since its structure is made up of several different committees. Among them, the following stand out:
- Plan and execute the currency issuance of the country;
- Function as the “government banker”;
- Serve as “bank of banks”;
- Monitor the country's financial system;
- Plan and implement activities related to monetary policy and exchange rate of the country.
Stock value each year since 2000
THE Central Bank of Brazil, also known as BACEN, is an independent federal agency that is part of the Brazilian Financial System, directly linked to the Ministry of Finance, which is our economy ministry. Currently led by Paulo Guedes.
The value of each Bacen share is not publicly disclosed, as it is not a bank in which anyone can invest, it is very linked to current politics, therefore, it is not possible to know what the current values of the Bank's shares are since 2000.
Is it possible to have an account at the Central Bank?
The Central Bank is not a public body where anyone can register and have an account to make transactions, it is a controlling body, from a financial fiscal point of view, that is, it gives orders regarding the control over interest rates on financial processes in Brazil.
Is it worth getting vehicle financing?
As we said above, it is not possible to make transactions of this type at the Central Bank, especially vehicle financing. What you can check at the Central Bank is the interest rate on financing that the Bank determines for other banks to follow.
If your intention is to purchase a vehicle with good rates, Click here, we have exclusive articles on this subject.
It is worth taking out a personal loan
The same goes for loans. The bank determines the Selic rate, which will be responsible for ensuring that you know the fixed values that the bank has determined. It is not possible to take out a personal loan directly through the Central Bank, not to be confused with Banco do Brasil. They are different organizations, with different roles.
Regarding personal loans, we also have excellent tips that can make your life easier, click here and read other exclusive content.
How to work at the Central Bank?
It's an interesting question, as many of us would like a position at that level.
Central Bank Analyst
- Initial: R$ 18,057.94
- End: R$ 25,745.60
Central Bank Attorney
- Initial: R$ 20,109.56
- End: R$ 26,127.94
Central Bank Technician
- Initial: R$ 6,851.13
- End: R$ 11,771.99
Telephone numbers for the main service points of the Central Bank
Complaints can be filed online at www.bcb.gov.br/?RECLAMMACAODENUNCIA or by calling 145 or 0800-979-2345. This service is available from Monday to Friday from 8 am to 8 pm, except on holidays.
What does the bank have in this period of crisis?
The figure, released last Monday, the 23rd, by the BC itself, is equivalent to 16.7% of the Gross Domestic Product (GDP).
According to Bacen directors, the resources are intended to maintain liquidity in the system – that is, the availability of money so that financial institutions can normally carry out their operations with clients (companies and individuals).
What measures were taken to combat the crisis?
The Bank reported that among the measures to combat the effect of the pandemic on the financial system are the reduction of compulsory rates on term deposits, from 31% to 25%, and the reduction of the portion of compulsory collections considered in the Short-Term Liquidity Indicator (LCR) of banks.
Therefore, these two measures, announced on February 20, represent the injection of R$135 billion into the system.