| SDDS | Date of last update: 11/30/2001 |
| Category Provider's Data | |
Contact Person |
Ericsom Semerene Costa |
Organization |
Banco Central do Brasil, Departamento Econômico, Divisão Monetária
e Bancária SBS Qd.3, Ed. Sede, Bl. B, 10º andar Brasília (DF) - Brasil CEP 70.074-900 |
Phone Number |
55 61 3414-1031 |
Fax Number |
55 61 3414-1031 |
| dimob.depec@bcb.gov.br | |
| Description | |
| The Data: Coverage, Periodicity, and Timeliness | |
Coverage characteristics |
The Special Settlement and Custody System (SELIC ) overnight rate, expressed in annual terms, is the average rate weighted by the volume of one-day operations guaranteed by federal government securities, carried out at SELIC through commited operations. It is the basic rate used as reference by the monetary policy. |
Periodicity |
Daily |
Timeliness |
The SELIC overnight rate is published approximately at 9:00 am of the morning following the reference day. |
| Access by the Public | |
Advance dissemination of release calendar |
Not applicable. Data are disseminated daily. |
Simultaneous release to all interested parties |
The
daily Over/SELIC overnight rate is released in Portuguese on the Central Bank's
website (http://www.bcb.gov.br) and on the Central
Bank Information System (SISBACEN), which can be accessed by downloading
proper software on the Internet The cumulative monthly rate is published in the Central Bank Bulletin, available to all interested parties at http://www.bcb.gov.br/?BULLETINCR. When primary auctions of public securities are held, the rates are disseminated on the same day on SISBACEN. |
| Integrity | |
Dissemination of terms and conditions under which official statistics are produced, including those relating to confidentiality of individual responses |
The Central Bank of Brazil compiles and publishes monetary and financial statistics pursuant to the legislation in force, specifically the Law establishing the Central Bank (Law Nr. 4595 of Dec. 31st, 1964) and the National Monetary Council resolutions, governing the generation and release of data and information, in particular with regard to the confidentiality of data. The Central Bank guarantees the confidentiality of the data in observance of the established in Article 38 of the Law Nr. 4595. The Law Nr. 4595, the National Monetary Council resolutions, and other rules issued by the Central Bank of Brazil, as well as other legislation, can be found in Portuguese on the Central Bank's Internet page: http://www.bcb.gov.br/mPag.asp?cod=106&Perfil=1&codP=0 These laws are available to the public in Portuguese at the Internet page of the Presidency of the Republic, under search of decrees and laws |
Identification of internal government access to data before release |
No one has access before release of the rate on the Central Bank Information System SISBACEN. |
Identification of ministerial commentary on the occasion of statistical releases |
No commentary by ministerial or other federal government agencies is added to the data released. |
Provision of information about revision and advance notice of major changes in methodology |
The rates are final and not subject to revision. Methodological changes are communicated to the market on the Central Bank's website (http://www.bcb.gov.br) and are also published on SISBACEN. The public are informed of these changes at least one month in advance of being implemented. |
| Quality | |
Dissemination of documentation on methodology and sources used in preparing statistics |
The methodology used for calculating the Over/SELIC overnight rate can be found in the regulations published by the Central Bank and available on the Internet at |
Dissemination of component detail, reconcilliations with related data, and statistical frameworks that support statistical cross-checks and provide assurance of reasonableness |
The data on interest rates are published in Section III of the Central
Bank Bulletin (http://www.bcb.gov.br/?OPERATIONS).
The series are disseminated on a monthly basis (accumulated overnight and annual rates) for the current and previous year data, and on an annual basis for the three prior years. The following rates are also disseminated: CDI (money market interest), TR (reference rate) and TBF (financial basic rate). These rates are also disseminated in Portuguese on the SISBACEN. |
Notes |
Summary page on observance and transition plan |
| Dissemination Formats | |||
| Hardcopy | |||
| X | X | News release | |
| Weekly bulletin | |||
| Monthly bulletin | The
Central Bank Bulletins are available in Portuguese and in English at the
Central Bank's library or by paid subscription from:
DEMAP/DISUP/SUIMP e-mail: demap.disup@bcb.gov.br The cost is R$ 19.05 per issue. |
||
| Quarterly bulletin | |||
| Other | |||
| Electronic media | |||
| X | On-line country bulletin board or database | Information on the daily Over/SELIC rate are available on
line in Portuguese on Central Bank Information System (SISBACEN). When primary
auctions of public securities are held, the rates are disseminated in the
same day on SISBACEN.
Proper software for accessing SISBACEN is free of charge and can be downloaded
from Additional information can be obtained on Central Bank's website. |
|
| X | Internet address | The daily Over/SELIC rate dissemination is released on the
Central Bank website http://www.bcb.gov.br/pec/indeco/ingl/ie3-01i.xls
The cumulative monthly rate is published in the Central Bank Monthly
Bulletin, available to all interested at |
|
| X | Diskette | ||
| CD ROM | |||
| Other | |||
| Summary Methodology |
| Analytical framework, concepts, definitions, and classifications (including reference to applicable guidelines) |
| The Over/SELIC rate is a daily interest rate indicator. It is the adjusted average rate of daily financing guaranteed by federal government securities, calculated in the Special Settlement and Custody System (SELIC) and published by the Central Bank of Brazil. |
| Scope of the data (coverage of, e.g., institutional units, transactions and stock, commodities, industries, and geographic areas) |
| The data cover short-, medium- and long-term federal government securities issued by the Treasury or Central Bank, traded and registered in the SELIC. |
| Accounting conventions (e.g. time of recording, valuation methods) |
| There is no accounting convention used in the case of the Over/SELIC rate. |
| Nature of the basic data (e.g., administrative records, surveys censuses, combinations of these) |
| The origin of the Over/SELIC rate is the Special Settlement and Custody System, SELIC, for which the Central Bank of Brazil and the National Associations of Open Market Institutions (ANDIMA) are responsible. |
| Compilation practices (e.g., weighting schemes, imputation methods, balancing/cross-checking techniques) |
| The
SELIC rate is determined by the weighted daily average by volume of operations, according
to the following formula:
where µ = calculated average rate; DIi = Rate of the i-th transaction VEi = Face value of the i-th transaction n = number of transactions in the sample |
| Other aspects (e.g., seasonal adjustment, disclosure avoidance, base years, reference years, transformations from fiscal to calendar years) |
