	security pacific spc loans put on non accrual security pacific corp said it is placing medium and long term loans to brazil and ecuador on a non accrual basis as of march a move that will reduce first quarter ings by mln dlrs or nine cts per share after taxes despite the anticipated reduction to quarterly ings security pacific said it still expects to report first quarter ings higher than the mln dlrs or dlrs per share reported for the first quarter of the bank holding company said the action affects mln dlrs of loans to brazil and mln of loans to ecuador brazil suspended interest payments on its billion dlrs of medium and long term debt on february ecuador which has foreign debt of roughly eight billion dlrs has not paid any interest to foreign banks since february in march ecuador said it would suspend interest payments for the rest of the year because of an earthquake which halted the export of oil which accounts for about pct the country s export revenues in its announcement security pacific said it will record interest income only as it is received in cash the company also said it believes that brazil will reach an agreement with its banks and that interest payments will resume later in the brazilian negotiations resume on friday in new york when central bank governor francisco gros is expected to ask banks for a day roll over of some billion dlrs of term debt that matures on april reuter 
