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Cracks ‘Starting to Show’ in Canadian Credit Quality, RBC Says

  • Roll rates, losses for some credit programs are increasing
  • Health of consumer loans is major barometer for economy

The quality of Canadian consumer credit is beginning to deteriorate, according to Royal Bank of Canada credit analyst Vivek Selot.

The roll rate -- the percentage of credit card users who “roll” from early stage delinquencies to 60-89 day delinquencies -- reached the highest since 2008 for one credit card program, while delinquencies for another program were above the 10-year average, Selot said in a monthly analysis of credit securitization programs.