The President of the Republic, Jair Bolsonaro, enacted Conversion Bill No. 4, transformed into Law 14.166, after the National Congress overturned the partial veto that had been made to the text by the government. The Law, which provides for the extraordinary renegotiation of debts under the Constitutional Financing Fund for the North (FNO), the Constitutional Financing Fund for the Northeast (FNE) and the Constitutional Financing Fund for the Midwest (FCO), is published in the Official Gazette of the Union this Friday.
According to the Law, in addition to the credit recovery and debt renegotiation measures already permitted by law, the managing banks of the FNO, FNE, and FCO are authorized to carry out extraordinary renegotiation agreements for defaulted credit operations under their management.
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