Publication: Financial Sector Assessment Program : Brazil - Basel Core Principles for Effective Banking Supervision
Date
2012-04
ISSN
Published
2012-04
Author(s)
International Monetary Fund
World Bank
Abstract
Brazil has a well-defined banking
supervision process supported by a legal framework that
grants the Banco Central do Brasil (BCB) broad enforcement
powers for corrective action and weak bank resolution. This
assessment of the Basel Core Principles (BCP) for effective
supervision was conducted from February 27 through March 20,
2012. As agreed with the authorities, the supervisory
framework was assessed against the BCP methodology issued by
the Basel Committee on Banking Supervision (BCBS) in October
2006. In self-assessment the authorities addressed both
essential and additional criteria and the assessors based
their conclusions on compliance with both criteria. The last
BCP assessment was conducted in 2002, however, the grading
is not comparable to this assessment as the principles and
methodology were revised in 2006. Although the BCB operates
on an independent mode, there are amendments to Law
4595-1964 (banking law) that will aid in protecting the
continuation of the operational independence.
Citation
“International Monetary Fund; World Bank. 2012. Financial Sector Assessment Program : Brazil - Basel Core Principles for Effective Banking Supervision. © World Bank, Washington, DC. http://openknowledge.worldbank.org/handle/10986/15975 License: CC BY 3.0 IGO.”