Financial Oversight and Management Board for Puerto Rico

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The Financial Oversight and Management Board for Puerto Rico is a U.S.-appointed fiscal control body created under the PROMESA law to oversee Puerto Rico’s finances and debt restructuring.

All labels observed (2)

How this entity was disambiguated

Statements (48)

Predicate Object
instanceOf fiscal oversight board ⓘ
government body ⓘ
public law entity ⓘ
abbreviationOfLegalBasis PROMESA ⓘ
alsoKnownAs FOMB ⓘ
La Junta de Supervisión Fiscal ⓘ
Oversight Board ⓘ
appliesToTerritory Puerto Rico ⓘ
appointmentProcessInfluencedBy congressional leadership recommendations ⓘ
composition one ex officio member ⓘ
seven voting members ⓘ
controversy criticized for austerity measures ⓘ
criticized for democratic accountability concerns ⓘ
criticized for impact on public services in Puerto Rico ⓘ
country United States ⓘ
createdBy United States Congress ⓘ
createdInResponseTo Puerto Rican government-debt crisis ⓘ
dateEstablished 2016-06-30 ⓘ
exOfficioMember Governor of Puerto Rico ⓘ
governingLawSection Title I of PROMESA ⓘ
hasPower approve Puerto Rico annual budgets ⓘ
approve Puerto Rico fiscal plans ⓘ
certify fiscal plans and budgets ⓘ
initiate court-supervised debt restructuring under Title III of PROMESA ⓘ
require fiscal reforms from the Puerto Rico government ⓘ
review certain territorial laws for fiscal impact ⓘ
headquartersLocation San Juan, Puerto Rico ⓘ
jurisdiction Government of Puerto Rico ⓘ
covered territorial instrumentalities of Puerto Rico ⓘ
legalBasis Puerto Rico Oversight, Management, and Economic Stability Act ⓘ
litigationInvolvedIn Title III debt restructuring case for Puerto Rico Electric Power Authority ⓘ
Title III debt restructuring case for Puerto Rico Highways and Transportation Authority ⓘ
Title III debt restructuring cases for Puerto Rico ⓘ
membersAppointedBy President of the United States ⓘ
oversightPeriodCondition continues until Puerto Rico has four consecutive years of balanced budgets ⓘ
continues until Puerto Rico regains adequate access to short-term and long-term credit markets ⓘ
purpose achieve fiscal responsibility for Puerto Rico ⓘ
facilitate Puerto Rico’s debt restructuring ⓘ
oversee Puerto Rico’s public finances ⓘ
restore access to capital markets for Puerto Rico ⓘ
signedIntoLawBy Barack Obama ⓘ
subjectOf Supreme Court of the United States case Financial Oversight and Management Board for Puerto Rico v. Aurelius Investment, LLC ⓘ
supervises Commonwealth of Puerto Rico central government finances ⓘ
certain Puerto Rico public corporations ⓘ
SupremeCourtHoldingRelatedTo Board members are territorial officers not subject to U.S. Constitution Appointments Clause in the same way as federal officers ⓘ
website https://oversightboard.pr.gov ⓘ
workingLanguages English ⓘ
Spanish ⓘ

How these facts were elicited

Referenced by (10)

Full triples — surface form annotated when it differs from this entity's canonical label.

United States–Puerto Rico relations → hasActor → Financial Oversight and Management Board for Puerto Rico ⓘ
Puerto Rico Oversight, Management, and Economic Stability Act → createsBody → Financial Oversight and Management Board for Puerto Rico ⓘ
Fiscal Agency and Financial Advisory Authority of Puerto Rico → relatedTo → Financial Oversight and Management Board for Puerto Rico ⓘ
PROMESA → establishes → Financial Oversight and Management Board for Puerto Rico ⓘ
PROMESA → creates → Financial Oversight and Management Board for Puerto Rico ⓘ
PROMESA → oversightBody → Financial Oversight and Management Board for Puerto Rico ⓘ
Public Law 114-187 → createdEntity → Financial Oversight and Management Board for Puerto Rico ⓘ
Public Law 114-187 → establishes → Financial Oversight and Management Board for Puerto Rico ⓘ
Title IV (PROMESA) → relatedTo → Puerto Rico Oversight Board ⓘ
subject linked to: Title IV
linked to: Financial Oversight and Management Board for Puerto Rico
economy of Puerto Rico → hasOversightBody → Financial Oversight and Management Board for Puerto Rico ⓘ