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Consumer Loan Delinquencies Show Broad-Based Decline in Fourth Quarter 2009

Consumer loan delinquencies fell in eight of 11 loan categories in the fourth quarter of 2009, marking the second quarter in a row of broad-based improvement, according to the American Bankers Association’s Consumer Credit Delinquency Bulletin. The composite ratio, which tracks eight closed-end installment loan categories, fell four basis points to 3.19 percent of all accounts compared from 3.23 percent of all accounts in the previous quarter. Bank card delinquencies fell 38 basis points to 4.39 percent of all accounts which is below the five-year average (4.52 percent). The ABA report defines a delinquency as a late payment that is 30 days or more overdue.

In the auto loan categories, direct loan delinquencies fell 10 basis points to 1.94 percent of all accounts. Indirect auto loan delinquencies (arranged through auto dealers) remained even at 3.15 percent of all accounts.

Housing-related loans showed mixed results. Home equity loan delinquencies hit another record, rising to 4.32 percent of all accounts compared to 4.30 percent in the previous quarter. By contrast, home equity lines of credit delinquencies at quarter-end fell for the first time in six quarters to 2.04 percent of all accounts compared to 2.12 percent in the previous quarter.

For more detailed information on consumer delinquencies go to the ABA Press Room.

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