Central Bank of Brazil

The Central Bank of Brazil (in Portuguese: Banco Central do Brasil - BCB), created by Law N°. 4.595  of December 31^st, 1964, is an autonomous federal institution and part of the National Financial System (SFN).

The 1988 Constitution sets down Central Bank's matters, such as the exclusive attribution of the Union to issue money, the need to submit persons appointed by the President of the Republic to be president and director of the Central Bank to prior approval by the Senate, and the prohibition to direct or indirect granting of loans to the National Treasury. The 1988 Constitution also establishes the drawing up of a Complementary Law of the National Financial System, to substitute Law N°. 4.595, dealing with varied and important aspects of the structure and activities of the Banco Central do Brasil.