U.S. Second Quarter Consumer Credit Delinquency Rates
By Alex Tanzi -
2011-10-05T08:00:00Z
The number of credit card bills paid late decreased in the second quarter, according to the American Bankers Association.
The number of credit cards bills paid late fell to 3.22 percent from 3.4 percent in the first quarter. The average bank card delinquency rate over the last two years is 3.78 percent. The ABA’s composite ratio, which tracks eight types of closed-end consumer installment loans, was up to 2.88 percent.
Following is a table compiled from the American Bankers Association Consumer Credit Delinquency Bulletin:
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2Q 1Q 4Q 3Q 2Q 1Q 4Q
2011 2011 2010 2010 2010 2010 2009
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Composite accounts 2.88% 2.71% 2.68% 3.01% 3.00% 2.98% 3.19%
Dollar value 2.81% 2.72% 3.08% 3.17% 3.05% 3.09% 4.01%
Bank card accounts 3.22% 3.40% 3.28% 3.64% 3.62% 3.88% 4.39%
Dollar value 4.91% 5.26% 5.39% 5.72% 5.72% 6.40% 6.82%
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2Q 1Q 4Q 3Q 2Q 1Q 4Q
2011 2011 2010 2010 2010 2010 2009
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Home equity loans 4.38% 4.12% 4.05% 4.05% 3.97% 4.12% 4.32%
Home equity lines 1.91% 1.80% 1.73% 1.74% 1.81% 1.81% 2.04%
Auto direct 1.23% 1.20% 1.44% 1.74% 1.67% 1.79% 1.94%
Auto indirect 2.89% 2.72% 2.66% 3.02% 3.01% 3.03% 3.15%
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NOTE: The composite ratio includes direct auto, indirect auto,
personal, home equity (closed-end only), home improvement,
recreational vehicles, mobile home, and marine loans.
An indirect auto loan is a dealer financed note which is
then sold to a bank.
SOURCE: American Banker’s Association
To contact the reporter on this story: Alex Tanzi in Washington at atanzi@bloomberg.net
To contact the editor responsible for this story: Marco Babic at mbabic@bloomberg.net
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