Considerações sobre a Atuação do Banco Central na Crise de 2008

This paper discusses the measures that were undertaken by the central bank of brazil in the crisis of 2008. Besides, it presents the lessons that can be learned from the crisis. these lessons cover i) the areas of monitoring and prevention; ii) the necessity of improving regulation mechanisms; iii) improvements in liquidity supply; iv) the level of international reserves; and v) the own role of the central bank.