Procurador Do Banco Central Practice Questions - Concurso Público Para Procurador Do Banco Central Do Brasil (BCB) Exam

The Governor and eight Directors are appointed by the President of the Republic following approval by the Federal Senate for fixed four-year mandates, with the Governor taking office on the third year of the President's term to ensure non-coincidence with the presidential cycle. The Governor and Directors serve indefinite terms subject to discretionary removal (exoneração ad nutum) by the President of the Republic at any time during the fiscal year. The Governor is appointed directly by the National Monetary Council (CMN) without the participation or confirmation of the Federal Senate. Directors have fixed two-year terms that strictly coincide with the first two years of the presidential mandate, requiring unanimous consent of the Chamber of Deputies for re-appointment.