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Delinquencies at 100 Largest Banks
The data from the FDIC that were reported in the article above are further supported by newly released data from the Federal Reserve on delinquency rates at the 100 largest commercial banks. As we would expect, delinquency rates on residential mortgages were significantly below the rates on credit cards and other consumer loans. With March 2001 as the official starting date of the recession, it might be noted that delinquency rates on residential mortgage loans peaked in the next quarter, while delinquencies on credit cards continued to rise until the third quarter of that year.
| Delinquency Rates at 100 Largest Banks (Quarterly data, 1999-2001) |
|||
|---|---|---|---|
| Quarter | Residential Mortgages |
CreditCards | Other |
| 99:1 | 2.32 | 4.62 | 3.60 |
| 99:2 | 1.87 | 4.47 | 3.53 |
| 99:3 | 2.41 | 4.55 | 3.37 |
| 99:4 | 2.12 | 4.49 | 3.29 |
| 00:1 | 2,12 | 4.35 | 3.19 |
| 00:2 | 2.10 | 4.46 | 3.25 |
| 00:3 | 2.26 | 4.49 | 3.25 |
| 00:4 | 2.49 | 4.53 | 3.28 |
| 01:1 | 2.46 | 4.64 | 3.14 |
| 01:2 | 2.55 | 4.71 | 3.15 |
| 01:3 | 2.34 | 4.72 | 3.31 |
| 01:4 | 2.34 | 4.67 | 3.35 |
Source: Federal Reserve Board. Data are seasonally adjusted.
Note: Delinquent loans and leases are those that are past due thirty days or more and still accruing interest as well as those in non-accrual status.
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