Historical Composition of the Board of Governors - Overview of Governors’ Administrations - Since 1965 Note: This document contains a list with names and their positions, organized according to the Central Bank Governors’ administrations. Please also refer to Historical Composition – Overview of Areas of Activity, and to Historical Composition of the Board of Governors – Overview of the Organizational Structure, available in the History section on the website of the the Central Bank. Historical Composition of the Board of Governors Overview of the Governors’ Administrations P. 2 Contents Governor: Denio Chagas Nogueira ............................................................................................................................ 6 Governor: Ruy Aguiar da Silva Leme .......................................................................................................................... 7 Governor: Ary Burger [interim governor] ................................................................................................................... 8 Governor: Ernane Galvêas........................................................................................................................................ 9 Governor: Paulo Hortênsio Pereira Lira .................................................................................................................... 11 Governor: Carlos Brandão ...................................................................................................................................... 13 Governor: Ernane Galvêas...................................................................................................................................... 14 Governor: Carlos Geraldo Langoni........................................................................................................................... 15 Governor: Affonso Celso Pastore ............................................................................................................................. 16 Governor: Antonio Carlos Braga Lemgruber ............................................................................................................. 17 Governor: Fernão Carlos Botelho Bracher................................................................................................................. 19 Governor: Francisco Roberto André Gros.................................................................................................................. 21 Governor: Lycio de Faria - [interim] ......................................................................................................................... 23 Governor: Fernando Milliet de Oliveira .................................................................................................................... 25 Governor: Elmo Araújo Camões .............................................................................................................................. 27 Governor: Wadico Waldir Bucchi - [interim] ............................................................................................................. 29 Governor: Ibrahim Eris ........................................................................................................................................... 31 Governor: Francisco Roberto André Gros.................................................................................................................. 33 Governor: Gustavo Jorge Laboissière Loyola ............................................................................................................. 35 Governor: Paulo César Ximenes Alves Ferreira .......................................................................................................... 37 Historical Composition of the Board of Governors Overview of the Governors’ Administrations P. 3 Governor: Pedro Sampaio Malan ............................................................................................................................ 39 Governor: Gustavo Henrique de Barroso Franco - [interim] ........................................................................................ 41 Governor: Persio Arida........................................................................................................................................... 42 Governor: Gustavo Jorge Laboissière Loyola ............................................................................................................. 43 Governor: Gustavo Henrique de Barroso Franco........................................................................................................ 45 Governor: Arminio Fraga Neto................................................................................................................................ 47 Governor: Henrique de Campos Meirelles ................................................................................................................ 50 Governor: Alexandre Antonio Tombini..................................................................................................................... 56 Governor: Ilan Goldfajn ......................................................................................................................................... 61 Governor: Roberto de Oliveira Campos Neto ............................................................................................................ 64 Historical Composition of the Board of Governors Overview of the Governors’ Administrations P. 4 Introductory notes Governors I. The Central Bank of Brazil was created by Law 4,595, of December 31, 1964; the initial composition of the Board of Governors, with 4 members, was ruled by article 14. II. Between 1965 and 1974, Governors were chosen among appointed members of the CMN (article 14 of Law 4,595). III. Pursuant to Law 6,045, of May 15, 1974, Governors begin to be appointed by the President of the Republic, no longer being chosen from appointed members of the CMN. IV. Pursuant to the Complementary Law number 179, from 2/24/2021, which establishes the autonomy of the Central Bank of Brazil, the term of the Governor shall last for 4 (four) years, beginning on January 1st of the third year of the President of the Republic’s term. The Governor and the Deputy Governors of the Central Bank of Brazil may be reappointed once, observing the provisions of the law. Deputy Governors – from 1965 to 1969 I. In the period of 1965 to 1969, Deputy Governors of the Central Bank were chosen among the appointed members of the CMN, and their areas of jurisdiction were personified, without a specific denomination. II. Law 5,362, of November 30, 1967, altered to 5 the number of members of the Board of Governors. The Central Bank began to have 4 Deputy Governors with the inauguration of Mr. Paulo Hortênsio Pereira Lira. Deputy Governors – as of 1969 I. Directorates are identified by Area of activity as of Dec/5/1969 (Notice Depad 142). II. Law 6,045, of May 15, 1974, modifies the composition of the Board of Governors to 6 members (1 Governor and 5 Deputy Governors) and Central Bank Deputy Governors begin to be appointed by the President of the Republic. Besides, Deputy Governors are no longer members of the National Monetary Council (CMN), but participate in CMN meetings without the right to vote. III. On Feb/18/1975, Vote (1) CMN 29/75 was approved and Ordinance (2) 63 came into effect, defining technical and administrative structures of the Central Bank. It also created SPECIAL UNITS (cabinets of the Governor and Deputy Governors), and directorates begin to have specific names – Directorate for Administration, Directorate for Banking, Directorate for External area, Directorate for Rural and Industrial Credit, Directorate for Securities Market. IV. Decree-Law 1,795, of July 8, 1980 modifies the composition of the Board of Governors to 7 members (1 Governor and 6 Dep. Governors); the Public Debt Directorate (Didip) is created. V. Decree 88,008, of December 29, 1982 cuts down one position of Deputy Governor, reducing to 6 members the composition of the Board of Governors (1 Governor and 5 Dep. Governors); the Didip is extinguished. VI. Decree 91,148, of March 15, 1985 modifies the composition of the Board of Governors to 8 members (1 Governor and 7 Deputy Governors); two directorates are created: the Directorate for Supervision and the Directorate for Public Debt and Open Market. VII. Decree 91,961, of November 19, 1985 modifies the composition of the Board of Governors to 9 members (1 Governor and 8 Deputy Governors); the Directorate for Foreign Debt Affairs is created. Continues... Historical Composition of the Board of Governors Overview of the Governors’ Administrations P. 5 [Introductory notes – continued] On Mar/16/1990, Vote BCB 258/90 was approved, and Ordinance 209 came into effect, modifying the organizational structure and implementing a new structure for the Central Bank’s directorates. The decisions were complemented by Vote BCB 610-C/1990 and by Ordinance 212. VIII. On Jan/24/1992, Vote BCB 57/92 was approved, introducing the concept of Board of Governors, with each unit’s duties and competences grouped by matter; the cabinets of the Governor and Deputy Governors were extinguished; the practice of naming a Deputy Governor by his field of operation (“Deputy Governor for ...”) and respective acronyms were also eliminated. IX. The identification of members from the Board of Governors’ began to depict the groupings defined in Internal Regulations (Ordinance 267 of March 4, 1996), as follows: