The Central Bank of Brazil was created in 1964.
Brazil established its central bank through Law No. 4,595, enacted on December 31, 1964. The institution began operating in March 1965, taking over central-banking functions that had previously been divided among several bodies, including the Banco do Brasil and the Superintendency of Currency and Credit.
The Central Bank of Brazil, usually called Banco Central do Brasil or BCB, is responsible for monetary policy, financial supervision, currency issuance, and the functioning of Brazil’s payment system. It is headquartered in Brasília, the country’s federal capital.
A common mix-up is the distinction between the BCB and Banco do Brasil. Banco do Brasil is a commercial bank with government ownership, while the Central Bank of Brazil is the country’s monetary authority. Brazil’s currency, the real, is issued under the central bank’s authority.