Which institution is Brazil’s central bank, created in 1964 under the Brazilian Central Bank Law?
Answer
Central Bank of Brazil
The Central Bank of Brazil is Brazil’s central bank, created in 1964 under the Brazilian Central Bank Law.
Law No. 4,595, enacted on December 31, 1964, established the Banco Central do Brasil. The institution was created after Brazil’s monetary and banking functions had been distributed among several bodies, including the Bank of Brazil and the National Treasury.
The central bank conducts monetary policy, regulates financial institutions, manages international reserves, and issues Brazil’s currency. It is headquartered in Brasília, the country’s federal capital.
Banco do Brasil is a separate commercial and financial institution, although it has historically performed important public functions. It should not be confused with the Central Bank of Brazil.