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Brazil's central bank: Loan delinquency stays at 5.5% in February

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Brazil's central bank: Loan delinquency stays at 5.5% in February

The ratio of loans over 90 days in arrears in Brazil stayed at5.5% in February, the same as January, according to data released from March 29.

The percentage of overdue loans, which refers to general creditlines that do not fall under central bank allocation requirements, represents thehighest level seen historically since the measurements began in 2011, Reuters reportedthe same day.

The central bank raisedthe ratio of delinquencies it reported in January to 5.5% from 5.4%, the news servicesaid.

Overdue loans that fall in the category of funds that must complywith the central bank's allocation requirements stood at 3.5% in February, the samerate registered in January, but 70 basis points above year-ago levels.

Lending operations came to 3.18 trillion Brazilian reais in February,a decline of 50 basis points from January, but up 5.3% year over year.

Meanwhile, the credit-to-GDP ratio dropped to 53.6% in Februaryfrom 54% in January, but was a higher ratio compared to 52.9% recorded in February2015, according to central bank data.

As of March 28, US$1 wasequivalent to 3.68 Brazilian reais.