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19-579: BCB can mean: Government, politics, & industry [ edit ] Banco Central do Brasil (Central Bank of Brazil), a state-owned bank and principal monetary authority Banque de Crédit de Bujumbura , a commercial bank in Burundi Bauer College of Business , an academic college at the University of Houston Board Certified in Biofeedback ,

38-770: A certification administered by the Biofeedback Certification Institute of America Central Bolívar Bloc , a Colombian paramilitary organization known by the Spanish initials BCB Science [ edit ] Benzocyclobutene , a polycyclic aromatic hydrocarbon Brilliant cresyl blue , a supravital stain Sport [ edit ] Bangladesh Cricket Board , the main governing body on Cricket in Bangladesh Border City Brawlers , roller derby league from Windsor, Ontario Bermuda Cricket Board ,

57-484: Is a department established by the Central Bank of Brazil on June 20, 1996, through Circular No. 2698 (revoked as of January 2, 1998 by Circular No. 2780 of November 12, 1997) in order to define monetary policy guidelines and set the basic interest rate . It regulates the liquidity of the economy through monetary policy instruments. Copom was created on June 20, 1996, to establish monetary policy guidelines and set

76-534: Is different from Wikidata All article disambiguation pages All disambiguation pages Banco Central do Brasil The bank is not linked to any ministry, currently being autonomous. Like other central banks, the Brazilian central bank is the principal monetary authority of the country. It received this authority when it was founded by three different institutions: the Bureau of Currency and Credit (SUMOC),

95-665: The Bank of Brazil (BB), and the National Treasury . One of the main instruments of Brazil's monetary policy is the Banco Central do Brasil's overnight rate , called the SELIC rate. It is managed by Monetary Policy Committee (COPOM) of the bank. The bank is active in promoting financial inclusion policy and is a leading member of the Alliance for Financial Inclusion . It is also one of

114-528: The European Central Bank since the creation of the single currency in January 1999. Currently, several monetary authorities worldwide adopt a similar practice. Since 1996, Copom's regulations changed regarding the objective, the frequency of meetings, the composition and the duties and powers of its members. These amendments aimed to improve the decision-making process within the committee and to reflect

133-616: The Special System for Settlement and Custody - Selic), which is valid for the entire period between ordinary meetings of the committee. Copom can also determine the trend (up or down) of the interest rate. The president of the Central Bank can change the target for the Selic rate by the trend at any time. Copom is composed of the presidents and directors of the Central Bank of Brazil. Other agents from departments directly or indirectly linked to

152-675: The Minister of Finance, the reasons for non-compliance, as well as the measures to be adopted and the deadline for returning the inflation rate to the established limits. Formally, Copom's objectives are to "implement monetary policy, set the Selic rate target and analyze the Inflation Report." The interest rate set at the Copom meeting is the target for the Selic rate (the average interest rate for daily financing backed by sovereign bond and calculated by

171-512: The changes in the monetary regime. After the introduction of the "inflation targeting" system as a monetary policy guideline by Decree No. 3,088 on June 21, 1999, the Copom's decisions became aimed at fulfilling the inflation targets set by the National Monetary Council ( Conselho Monetário Nacional - CMN). According to the decree, if the targets are not achieved, the president of the Central Bank must disclose, in an Open Letter to

190-409: The department leaders present a technical analysis of the situation covering inflation, the level of activity, the evolution of monetary aggregates , public finances , the balance of payments , the international economy , the foreign exchange market , international reserves , the money market , open market operations and general expectations for macroeconomic variables. On the second day of

209-450: The economy are also part of the committee. The members associated with the Central Bank of Brazil are: The heads of the Central Bank's departments also attend the meetings: Consultants, the executive secretary of the board of directors, the coordinator of the institutional communication group and the press officer of the presidency of the Central Bank also join in the discussions. Copom's regular meetings are divided into two sessions:

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228-821: The economy's basic interest rate. The creation of the committee aimed to provide greater transparency and an appropriate protocol for the decision-making process, similar to the Federal Open Market Committee (FOMC) of the Federal Reserve System (The Fed) in the United States, and the Zentralbankrat, the board of the Deutsche Bundesbank , the German central bank. In June 1998, the Bank of England also set up its Monetary Policy Committee (MPC), as has

247-538: The end of the second session of the regular meeting. The reports in Portuguese are published on the Tuesday of the week following each meeting, within the regulatory period of six working days. The technical presentations on the economic situation relating to the first and second day of the meeting are made available after 4 and 8 years respectively. At the end of each quarter (March, June, September and December), Copom publishes

266-400: The first is reserved for technical presentations on the economic situation and the second is dedicated to deciding on the Selic rate target. Besides the president and directors, the heads of the Central Bank departments participate in the first session of the meeting, which can also be attended by other Central Bank employees when authorized by the president. On the first day of the meetings,

285-700: The main governing body on Cricket in Bermuda. Technology [ edit ] Borland C++ Builder , a popular rapid application development (RAD) environment Transport [ edit ] Burscough Bridge railway station , the National Rail station designated BCB BCB, the IATA airport code for the Virginia Tech Montgomery Executive Airport in Blacksburg, Virginia Topics referred to by

304-403: The meeting, besides the Copom members, the head of Depep participates with no voting rights and gives a technical presentation containing a prospective assessment of inflation. Afterwards, the Copom members, based on an assessment of the macroeconomic scenario and the main associated risks, decide on the Selic rate target by a simple majority vote. Copom decision announcements are released after

323-743: The original 17 regulatory institutions to make specific national commitments to financial inclusion under the Maya Declaration . during the 2011 Global Policy Forum in Mexico. Since 25 February 2021, it is independent from the Federal Government . On 3 November 2020, the bill of the Independence of Central Bank passed the Senate , by 56 votes to 12. And on 10 February 2021, in the Chamber of Deputies

342-403: The same term [REDACTED] This disambiguation page lists articles associated with the title BCB . If an internal link led you here, you may wish to change the link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=BCB&oldid=1250619219 " Category : Disambiguation pages Hidden categories: Short description

361-536: Was approved by 339 votes in favor and 114 against without changes, going to President Jair Bolsonaro 's sanction, generating the Federal Complementary Law No. 179 of 24 February 2021. With the Federal Complementary Law No. 179 of 24 February 2021, it became autonomous, in addition to gaining a new organizational structure. Monetary Policy Committee (Brazil) The Monetary Policy Committee ( Portuguese : Comitê de Política Monetária - Copom)

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