The charge-off ratio for the top 100 U.S bank credit card issuers edged up 5 basis points (bps) in the third quarter but remains at historic lows.
According to the Federal Reserve, the charge-off rate (seasonally adjusted) for the top 100 U.S. banks increased to 2.90% in the third quarter, compared to 2.85% in the prior quarter, and 3.03% in the year ago quarter.
The charge-off ratio (not seasonally adjusted) for the top 100 U.S. banks increased to 2.72% in the third quarter, compared to 3.00% in the prior quarter, and 2.87% in the year ago quarter.
Charge-offs among the nation’s top four U.S. issuers dropped 15 basis points (bps) year-on-year (YOY) to 2.68%, and down 20 bps sequentially for the third quarter. Citibank has done the best job of reigning in card losses, dropping 44 bps from 2Q/15 and 41 bps YOY.
TOP 100 U.S. BANKS CHARGE-OFFS
(not seasonally adjusted)
Source: Federal Reserve
TOP 4 ISSUER AVERAGE
Source: Chase; Bank of America; Capital One; Citibank;
For data, background and forecasts on Charge-Offs: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
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