The total average default rate recorded by banks in credit operations remained stable at 4.7% in June, a historic record, the Central Bank (BC) reported this Thursday (30). The value remained at the highest since the beginning of the monetary authority's revised historical series, in March 2011. The Central Bank's default indicator considers operations overdue for more than 90 days, both for individuals and companies. In the case of individuals, default remained at 5.6% in June, the highest level in the historical series. For companies, default rates remained stable at 3.2% last month, the highest value since November 2017 (3.3%). Desenrola 2.0 The record was reached in the month following the launch of "Novo Desenrola Brasil", also called Desenrola 2.0, the latest debt renegotiation program launched by the government, which began in May. According to the Ministry of Finance, the program has already renegotiated more than R$22 billion and around 3.6 million renegotiations had been carried out by the end of June. As a result, the debt fell from R$22 billion to around R$4 billion. The Minister of Finance, Dario Durigan, informed this week that the federal government has decided to extend membership of Desenrola 2.0 until August 31st. Without the extension, the program would end in early August. Debt According to figures from the Central Bank, debt indicators also remained at a high level in May, despite a marginal drop — the last available in this indicator. The percentage relationship between the balance of household debts and accumulated income over twelve months fell from 49.9% in April to 49.8% in May. According to Serasa Experian — a credit analysis company that gathers financial data from consumers and companies — 82.8 million Brazilians were in debt in March, equivalent to 49% of the Brazilian population. ?The company also reported that 47% of debts, which totaled R$557.7 billion in March, are concentrated in financial institutions. In other words, these debts are the focus of Desenrola 2.0 – a government program launched this week.