That policy idea would reduce the use of short-term Treasury bills (LFTs in Brazil) debt.

FORBES: Brazil Lowers Interest Rates, But Risks Remain

In 2002, when the country faced severe crisis of investor confidence, the LFTs represented 60.8% of outstanding debt.

FORBES: Brazil Lowers Interest Rates, But Risks Remain

Issued by the Brazilian Treasury, the LFTs are fixed income securities, whose yield changes with variation of the Selic rate.

FORBES: Brazil Lowers Interest Rates, But Risks Remain