Acronym for “Taxa Referencial de Juros”, an interest rate created in 1991 during the Collor II Plan. To calculate the TR, the Central Bank uses a sample of the 30 largest financial institutions in the country, the volume of funding of the deposits with maturities for each one of them The value of the TR is calculated based on the average monthly remuneration of the CDBs and RDBs issued by banks in the sample.