A STUDY ON THE RELATIONSHIP BETWEEN THE COMPROMISED OPERATIONS OF THE CENTRAL BANK OF BRAZIL AND THE FEDERAL PUBLIC DEBT

Abstract

Compromised operations consist of an important tool used by the Banco Central do Brasil to regulate the money supply and liquidity conditions in Economy. However, the excessive use of these transactions can negatively impact the perception of sustainability of fiscal policy, as they represent short-term loans, capable of increasing the volume of public bonds in circulation, affecting public debt. The present work aims to analyze the interrelationship between variables associated with fiscal policy and the volume of compromised. In this discussion, the importance of operational coordination between the Banco Central do Brasil and the Tesouro Nacional stands out.