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