Bacen: what is the function and importance of the Central Bank of Brazil?

[email protected]

Known as Bacen or BC,  the Central Bank of Brazil is one of the most important bodies for dictating the direction of the national economy  and making the financial system work correctly. There are many responsibilities of the Bacen, which takes care of everything from issuing coins to establishing the  monetary policies  that will be applied in the country. To learn more about Bacen and understand its function and importance, just continue reading the article we have prepared. In it, we will talk about the following topics: What is the Central Bank of Brazil (Bacen)? What are the main functions of the Central Bank of Brazil? Understand the main services offered by Bacen What is the role of the Central Bank in regulating the economy.

How important is the Central Bank for investments? Frequently asked questions about the Central Bank. Good reading! What is the Central Bank of Brazil (Bacen)? A printed page with graphs indicating fluctuations in the financial market from 2016 to 2021. Reference keyword: bacen cell phone number list central bank of brazil The Central Bank of Brazil (Bacen) is one of the most important bodies for dictating the direction of the national economy and making the financial system work correctly! The Central Bank of Brazil (Bacen) functions as an autonomous agency that, therefore, acts independently. This means that, by law,  it must not be subordinate to one of the powers  and  must have carte blanche to apply policies aimed at guaranteeing the country's economic stability. Because of this configuration, the Central Bank is today the most authoritative financial institution in Brazil.



Its strong performance includes several functions, including  authorizing and supervising the operation of other financial institutions . To this end, Bacen establishes rules for  commercial banks  in order to  guarantee customer safety and economic stability  in general. In addition to protecting citizens from abusive practices, supervision aims to ensure  fair competition between companies in the market . In addition to banks,  brokers   and securities managers need to be duly registered and authorized by the institution  , which is also responsible for supervising their operations. A little about the history of the Central Bank of Brazil The Central Bank of Brazil was created in December 1964, based on Law No. 4,595 . At first, with a much more limited role. In its early years, the BC did not have full control of monetary policies, nor could it act as a government bank – this function belonged to Banco do Brasil until 1985. That year, a financial reorganization better separated the functions of Bacen.