Aula 02 - Sistema Financeiro Nacional - Curso BNB

Summary

The lecture introduces Brazil's National Financial System, focusing on its key functions: financial intermediation and resource management services. It explains the roles of surplus agents and deficit agents, illustrating how financial institutions like banks facilitate the flow of money between them. The lecture covers banking operations, interest rates, and the spread between loan rates and deposit rates. It also discusses the regulatory framework, with different bodies overseeing and regulating the financial market, including the Central Bank, CVM, and others. The session emphasizes the importance of understanding financial concepts and preparing thoroughly for exams through active note-taking and exercises.

Takeaways

• 😀 The National Financial System exists in the digital space, not in a physical building, and manages the financial operations of a country.
• 😀 The two main functions of the financial system are financial intermediation and resource management services.
• 😀 Financial intermediation involves the transfer of funds from surplus agents (those with extra money) to deficit agents (those in need of funds).
• 😀 Surplus agents, such as individuals with a positive income and spending balance, invest money in financial institutions, earning interest in return.
• 😀 Deficit agents, like those who spend more than they earn, borrow money from financial institutions, paying higher interest rates.
• 😀 Banks play a crucial role by collecting funds from surplus agents and lending them to deficit agents, with a difference between the two interest rates known as the 'bank spread.'
• 😀 The 'spread' refers to the difference between the interest rate at which a bank borrows money (from depositors) and the rate at which it lends to borrowers.
• 😀 The spread is not the bank's profit, as the bank must cover operational costs, such as paying employees and legal expenses.
• 😀 The second function of the financial system is to provide services that facilitate the management of financial resources, including options for saving, credit, and insurance.
• 😀 The system includes regulatory bodies like the National Monetary Council (CMN), which sets rules, and supervisory bodies like the Central Bank, which enforces them.
• 😀 The National Financial System also includes various regulatory authorities like the Securities and Exchange Commission (CVM) and the Private Insurance National Council (CNSP), which ensure market integrity and proper functioning.

Q & A

What does the term 'financial system' refer to in this context?

In this context, the financial system refers to something that exists solely in the digital space, not a physical organization, but a network of systems that manage the financial transactions of a country, such as the Brazilian payment system and the Special System for Settlement and Custody.

What are the two main functions of the National Financial System?

The two main functions of the National Financial System are financial intermediation and the provision of resource management services.

What is the role of a surplus agent (agente superavitário)?

A surplus agent is an individual who earns more than they spend, for example, someone with a monthly salary of R$ 5,000 and spending R$ 3,000, leaving R$ 2,000 in savings.

What does a deficit agent (agente deficitário) mean?

A deficit agent is an individual who spends more than they earn. For instance, someone with a monthly salary of R$ 5,000 but spending R$ 8,000, often relying on credit like loans or credit cards to cover the deficit.

How do financial institutions act in the intermediation process?

Financial institutions, like banks, act as intermediaries by receiving funds from surplus agents and lending them to deficit agents. They charge interest on loans while paying a lower interest rate on deposits.

What is the difference between the interest rates that banks offer to depositors and borrowers?

Banks offer a lower interest rate to depositors (e.g., 0% monthly for savings accounts) while charging higher rates to borrowers, such as 14% per month on credit cards or personal loans.

What does the term 'spread bancário' mean?

The term 'spread bancário' refers to the difference between the interest rate a bank pays on deposits (the rate it offers to surplus agents) and the interest rate it charges on loans (the rate it charges deficit agents).

Why is the spread bancário not the bank's profit?

The spread bancário represents the difference between the rates but does not account for the bank’s operational costs, such as paying employees, handling legal issues, and other expenses, so it is not the bank's profit.

What is the second function of the National Financial System?

The second function of the National Financial System is the provision of resource management services, which include options for citizens to save money, invest, have access to credit, and purchase insurance.

What are some of the services provided by the National Financial System?

The National Financial System offers various services such as the ability to pay taxes, save assets, access credit cards and checks, and purchase insurance products.