What is Banco Central do Brasil?

Answer 1

The Central Bank of Brazil, federal agency member of the National Financial System, was created in 31.12.64, with the enactment of Law No. 4595.

Before the creation of the Central Bank, the monetary authority role was played by the Superintendency of Money and Credit - SUMOC, Bank of Brazil - BB and the National Treasury.

The SUMOC, established in 1945 with the aim of exercising monetary control and prepare the organization of a central bank, had the responsibility to determine the percentage of required reserves of commercial banks, discount rates and liquidity of financial assistance, as well as interest on bank deposits. In addition, he oversaw the activities of commercial banks, directing the exchange policy and represented the country at international organizations.

The Bank of Brazil played the role of government bank, through control of foreign trade operations, receiving reserve requirements and voluntary implementation of commercial banks and foreign exchange operations on behalf of public companies and the National Treasury, according to the standards set by SUMOC and Agricultural Credit Bank, Commercial and Industrial.

The Treasury was the agency issuing of paper money.

After the creation of the Central Bank sought to endow the institution of mechanisms aimed at playing the role of "bank of banks". In 1985 he was promoted to government financial reorganization with the separation of accounts and functions of the Central Bank and Bank of Brazil National Treasury. In 1986 the account was terminated movement and providing resources to the Bank of the Central Bank of Brazil started to be clearly identified in the budgets of both institutions, eliminating the automatic supplies that jeopardized the Banco Central.

The process of financial reorganization government lasted until 1988, when the monetary authority functions were gradually transferred from the Bank of Brazil to the Central Bank, while the atypical activities carried out by the latter, as those pertaining to promotion and administration of federal debt were transferred to the Treasury.

The Federal Constitution of 1988 established important devices for the Banco Central, among which are the exclusive exercise of Union competence to issue currency and the requirement of prior approval by the Senate, by secret ballot, after public hearing, the names appointed by the President of the Republic for the posts of president and directors of the institution. In addition, the Central Bank has withheld the granting of direct or indirect loans to the Treasury.

Answer 2

It is in many places. The core is in Brasília. Check this: http://www.bcb.gov.br/pre/bc_atende/port/centaten.asp?idPai=PORTALBCB