RIO DE JANEIRO (Reuters) - Brazil's lower congressional house passed a plan late on Tuesday to allow workers to use part of their severance benefit as collateral for loans in a bid to rekindle demand for credit in the recession-stricken economy.


The measure aims to unleash billions of reais in new so-called payroll deductible loans using severance from the FGTS compulsory savings program as a guarantee.


The proposal will now go to the Senate for approval, a note on the Congress website said.


(Reporting by Stephen Eisenhammer; Editing by Lisa Von Ahn)