How much to the hierarchic control, directly determination of the direct administration in immediate way are subordinated to the President of the Republic and the Secretary of the Treasury, fulfilling, accepting the lines of direction of the presidency, or mediate, with the CMN defining politics and regulating activities, as much it BACEN, how much of the CVM. National Monetary advice the National Monetary Advice (CMN) is an Autarchy created for Law 4,595, of 31 of December of 1964 with being able deliberative maximum of the National Financial System. He is responsible for the general lines of direction, forwarded for its functioning. He is constituted by the following members: – Minister of State of the Farm – Minister of State of the Planning, Budget and Management – President of the Brazilian Central Bank Abilities – To establish the general lines of direction of the politics monetary, exchange and credit – To regulate the conditions of constitution, functioning and fiscalization of the financial institutions – To discipline the politics instruments monetary and exchange Objectives Of in accordance with the article 3, that politics of the National Monetary Advice is mentioned to it, this will have as objective: – To adapt the volume of the ways of payment to the real necessities of the national economy and its process of development – To regulate the value internal of the currency, for in such a way preventing or correcting the inflationary or deflacionrios surtos of internal or external origin, the economic depressions and other deriving disequilibria of conjunctural phenomena – To regulate the external value of the currency and the balance in the rocking of payment of the Country, in view of the best use of the resources in foreign currency – To guide the application of the resources of the institutions financiers, wants public, wants private, in view of propitiating favorable conditions the harmonic development of the national economy – To propitiate perfectioning of the institutions and the financial instruments, with sights to the biggest efficiency of the system of payments and mobilization of resources – To watch over for liquidity and solution of the financial institutions – To co-ordinate the politics monetary, credit, budgetary, fiscal and of the public, internal and external debt – To authorize paper emissions currency – To approve monetary budgets prepared by the Brazilian Central Bank Brazilian Central Bank the Brazilian Central Bank is an integrant federal autarchy of the National Financial System, being tied with the Treasury department of Brazil. It is main the monetary authority of the country, having received this ability from three different institutions: the Supervision of the Currency and Crdito (SUMOC), the Bank of Brazil and the National Treasure. Central banking – Brasilia the Central banking was created in 31 of December of 1964, with the promulgation of the Law n 4.595. Abilities – To emit paper currency and metallic currency – To receive the collects obligatory from the commercial banks – To carry through operations of rediscount and loans of assistance to the liquidity to the financial institutions – To regulate execution of the checks clearing services and other papers – To effect, as instrument of monetary politics, operations of purchase and sales of federal public headings – To authorize, to normatizar, to fiscalize and to intervine in the financial institutions – To control the flow of foreign capitals, guaranteeing the correct functioning of the exchange market