National Monetary Council

National Monetary Council

An organization that sets monetary policy for the Central Bank of Brazil. It consists of the Finance Minister, the Planning Minister and the Governor of the Central Bank. It was created in 1964 by the same legislation that created the Bank itself.
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The National Monetary Council has authorised the central bank to begin implementing Basel III banking sector recommendations in the period.
He said a decree is expected to be published in the official federal gazette but, to come into force, it will still depend on the National Monetary Council, which will ultimately determine the credit lines' interest rates.
This includes a resolution enacted by the National Monetary Council in mid-2008 that requires farmers and ranchers in the Amazon to meet environmental criteria in order to obtain loans from public and private banks.
The National Monetary Council has authorized the bank to mint the commemorative coins, nearly four months after Brazil's World Cup triumph with a 2-0 win over Germany in the final in Yokohama.
Rodrigues has also served as president of the Brazilian Rural Society and the International Cooperatives Alliance and has represented the Brazilian agribusiness sector in several government advisory roles, including the National Agricultural Policy Council, the National Monetary Council, the National Foreign Trade Council and the National Agribusiness Forum.
Brazil's National Monetary Council has changed the regulations for compulsory bank deposits in order to inject BRL40bn (USD17bn) into the Brazilian economy.
Furthermore, the Offering encompasses the distribution of Global Depositary Shares, represented by Global Depositary Receipts, in accordance with investment mechanisms regulated by the National Monetary Council, the Central Bank of Brazil, and the CVM, and pursuant to exemptions from registration under the United States Securities Act of 1933 (as applicable).
Brazil's National Monetary Council has decided to change banking regulations in the country in order to increase liquidity.
Likewise the Finance Minister is a member of the National Monetary Council that sets the inflation targets for the central bank.
The Fund intends to continue active efforts to seek approvals from the CVM and from Brazil's National Monetary Council and Federal Revenue Office for approvals required to convert the Fund into a 2,689 Investor under Brazilian law and to open-end the Fund.
Under the terms of the agreements, which have received an in principle "no objection" from the Central Bank of Brazil and the Brazilian National Monetary Council, ABN AMRO Bank will acquire the shares and voting rights of the present controlling shareholder in a number of holding companies, thereby providing ABN AMRO Bank with an effective say over Banco Real.
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