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BRIEFLY

Security Pacific reclassified its Brazil loans.

April 09, 1987

The Los Angeles banking company said it was placing $401 million of loans to Brazil and $73 million in loans to Ecuador on non-accrual status. The move, which follows Brazil's suspension of interest payments in February, will reduce first-quarter earnings by $7.2 million, Security Pacific said. However, the firm said it will report first-quarter profit of about $96 million, a 9% increase over the year-ago period. Separately, Bankers Trust New York said it was reclassifying $540 million of its Brazil loans, reducing first-quarter profit by $7 million.

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