nÃo hà / The Macroeconomic instability lived deeply by Brazil, during decades, motivated practical of the high taxes of interests, provoking significant distortions in the intertemporal allocation of resources in the economy. Passed ten years of the edition of the Real Plan, the success of the monetary politics and the reduction of the level of uncertainties in relation to the country have made possible the fall of the taxes of interests, much even so still are considered between the most raised of the world. The influence of these taxes in the life of the people if negative reflects in the reduction of the capacity of saving and investment, repercurtindo in the sum of credit granted for the financial institutions. The existence of high taxes of interests also finds support in the government, that contributes with a confused and excessive tax burden on the operations of application and captation of resources, as well as the raised level of liability in relation the taxes of reserves of the banks. The necessary administrative costs to the maintenance of the operational activities, the level of present insolvency in the concession of credit and the edge of profit gained for the banks also if configure as determinative factors for the magnitude of these taxes. All these 0 variable significantly affect the process of transmission of resources in the economy, what it provokes the rise of the cost of the money of spread bank clerk and the level of risk of the operations of credit. Inside of this context, this dissertaÃÃo has as objective to define a methodology of calculation of the cost of the money for the credit borrower, of spread gained by the banks and its composoÃÃo, as well as applying a model of evaluation of the level of present proper risk in the practised taxes of application in the process of banking intermediaÃÃo in Brazil. / A instabilidade MacroeconÃmica vivenciada pelo Brasil, durante dÃcadas, motivou a prÃtica de elevadas taxas de juros, provocando distorÃÃes significativas na alocaÃÃo intertemporal de recursos na economia. Passados dez anos da ediÃÃo do Plano Real, o sucesso da polÃtica monetÃria e a reduÃÃo do nÃvel de incertezas em relaÃÃo ao paÃs tÃm possibilitado a queda das taxas de juros, muito embora ainda sejam consideradas entre as mais elevadas do mundo. A influÃncia dessas taxas na vida das pessoas se reflete na reduÃÃo da capacidade de poupanÃa e investimento, repercurtindo negativamente no montante de crÃdito concedido pelas instituiÃÃes financeiras. A existÃncia de taxas de juros elevadas tambÃm encontra amparo no governo, que contribui com uma confusa e exorbitante carga tributÃria sobre as operaÃÃes de aplicaÃÃo e captaÃÃo de recursos, bem como o elevado nÃvel de exigibilidade em relaÃÃo as taxas de reservas dos bancos. Os custos administrativos necessÃrios à manutenÃÃo das atividades operacionais, o nÃvel de inadimplÃncia presente na concessÃo de crÃdito e a margem de lucro auferida pelos bancos tambÃm se configuram como fatores determinantes para a magnitude dessas taxas. Todas essas variaveis afetam significativamente o processo de transmissÃo de recursos na economia, o que provoca a elevaÃÃo do custo do dinheiro do spread bancÃrio e do nÃvel de risco das operaÃÃes de crÃdito. Dentro desse contexto, esta dissertaÃÃo tem como objetivo definir uma metodologia de cÃlculo do custo do dinheiro para o tomador de crÃdito, do spread auferido pelos bancos e sua composoÃÃo, bem como aplicar um modelo de avaliaÃÃo do nÃvel de risco prÃprio presente nas taxas de aplicaÃÃo praticadas no processo de intermediaÃÃo bancÃria no Brasil.