Brazil: Law No 4,595 Of December 31, 1964

This decree disposes of the Monetary Policy and Monetary, Banking and Credit Institutions, creates the National Monetary Council and establishes other provisions. The Law regulates the National Financial System. It is divided into eight chapters that:

• Detail the constitution of the National Financial System structured and regulated by the law;
• Create and specify the objectives and powers of The National Monetary Council;
• Deal with the Central Bank of Brazil;
• Comprise the characterization and subordination of the financial institutions:
  • Private financial institutions;
  • Public financial institutions;
  • The Bank of Brazil.
• Constitute penalties payable in case of non observation of legislation in force;
• Encompass general terms;
• Cover transitory dispositions.