Default ratio at Brazil's Caixa jumps in third quarter
SAO PAULO Nov 20 (Reuters) - Loan defaults at state-controlled Caixa Econômica Federal SA, Brazil's largest mortgage lender, jumped in the third quarter, reflecting eroding loan book quality as Latin America's largest economy slips into the deepest recession in a quarter-century.
Delinquencies for 90 days or more, a benchmark for defaults, rose to the equivalent of 3.3 percent of outstanding loans last quarter, from 2.9 percent in the second quarter, Caixa said in a statement on Friday.
(Reporting by Guillermo Parra-Bernal; Editing by Jeffrey Benkoe)
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