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The decline in U.S. bank defaults

Us banks list / Friday, August 20, 2010

The delinquency and default rates on credit cards Fell in July in the United States as more Consumers Kept Their payments "on time.

The delinquency rate ITS Fell to Lowest Level this year, in a sign That Consumers are Recovering from the worst of a Severe Recession.

Among banks That report to drop in delinquency and default rates are Capital One Financial Corp, Discover Financial Services, JPMorgan Chase & Co and Bank of America Corp.

The delinquency rate, a sign of future credit loss, has-been in decline Since the Beginning of the year.

However, the July drop by Analysts Was Particularly welcome, Because it would be a sign That Americans Can Manage Their Debts AMID Economic Uncertainty about recovery and high paro.

For ITS part, the default rate, as Classified Those bad loans by banks Also Fell in most of the lenders.

The rate of default from JPMorgan Chase and Capital One Fell to about 8%, a strong Improvement Compared to about 10% in January.

For ITS part, Discover and Bank of America Lowest Scored the default rates of the year.

Rates are Still High Compared to Pre-Recession Levels, Especially In Bank of America, WHO report Nonetheless Continue to Higher Levels of delinquency and default Among credit card issuers.

Data

The delinquency rate of Bank of America Fell to 5.92% from 6.16% in June while the default rate dropped to 11.39% from 11.98% the previous month.

JPMorgan Chase said Fell ITS delinquency rate to 4.06% in July from 4.13% in June, while nonperforming loans Fell to 7.95% from 8.38% the previous month.

For ITS part, the default rate of Discover Fell to 4.72% in July from 4.81% in June. For ITS part, the default rate Fell to 7.28% from 8%.

The default rate of Capital One Fell for a fourth month and Consecutive Stood at 8.13%, compare to 9.28% in June.

Meanwhile, the delinquency rate Fell to 4.66% from 4.79%.

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