The 30+ day delinquency rate (not seasonally adjusted) for the top 100 U.S. banks increased 2 basis points (bps) sequentially, and up 1 bps from one-year ago for the fourth quarter (4Q/15). Among the nation’s top four card issuers, delinquency edged up by 5 bps from the prior quarter, but dropped year-on-year (YOY) by 3 bps.
According to the Federal Reserve the top 100 U.S. banks posted a 30+ day delinquency rate of 2.17% for 4Q/15, compared to 2.15% in 3Q/15, and 2.16% for 4Q/14.
The average early stage delinquency ratio among the nation’s top four issuers was 2.04% for 4Q/15, compared to 1.98% in the prior quarter, and 2.07% from one-year ago.
All four of the top four issuers reported upticks in the 30+ day delinquency ratio which includes Chase, Capital One, Citibank, and Bank of America (BofA), compared to the prior quarter.
COF delinquency soared by 44 bps from the prior quarter.
The nation’s largest issuer, Chase, reported delinquency increased to 1.43% in 4Q/15, compared to 1.38% for 3Q/15 and 1.44% for 4Q/14, a 5 bps gain sequentially.
The nation’s second largest issuer, BofA, reported delinquency increased to 1.76% in 4Q/15, compared to 1.71% for 3Q/15 and 1.85% for 4Q/14, a 5 bps gain sequentially.
The nation’s fastest growing issuer, Capital One, reported delinquency increased to 3.39% in 4Q/15, compared to 3.28% for 3Q/15 and 3.27% for 4Q/14, an 11 bps gain sequentially.
The nation’s fourth largest issuer, Citibank, reported delinquency increased to 1.59% in 4Q/15, compared to 1.54% for 3Q/15 and 1.72% for 4Q/14, a 5 bps gain sequentially.
TOP 100 U.S. ISSUER AVERAGE
TOP 4 U.S ISSUER AVERAGE
CHASE 30+ DELINQUENCY
BOFA 30+ DELINQUENCY
CAPITAL ONE 30+ DELINQUENCY
CITIBANK 30+ DELINQUENCY
Source: Federal Reserve; Chase; Bank of America; Capital One; Citibank
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