C Bank of Brazil to cut number of market dealers

BRAZIL - The Central Bank has decided to reduce the number of its dealers (banks licensed to act for the Central Bank in the market) from 25 to 22, said bank director Sergio Goldenstein.

The aim of the move is to encourage competition among the dealers and guarantee greater market efficiency.

The Central Bank currently substitutes the two banks with the worst performance every two months. At the next exchange, scheduled 22 August, the two banks with the worst performance will lose their license

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