Abstract

Brazilian Banking

The article describes the institutional make-up of the Brazilian banking system, the present structure of which is largely attributable to the reform legislation of 1964 and 1965. Since that time it has undergone a rapid and organically controlled upswing and with regard to its economic importance it is quite capable of standing up to an international comparison. The supreme monetary authority is the National Monetary Council. The central bank serves the council as executive organ. "The Banco do Brasil enjoys a characteristic special status; it is by far the biggest bank in the country and at the same time the fiscal agent of the government. The private banking sector is built up on the principle of specialization and comprises three groups of institutions: the commercial banks, the investment banks and the financing companies that are typical of the Brazilian banking system. In the public sector, a distinction must likewise be made among three groups of institutions: the development banks, by far the most important of which is the federal BNDE; the federal and state savings banks; the National Housing Bank with its affiliated institutions. Bank with its affiliated institutions