Federal Reserve Data: Consumer debt is primarily used to finance durable asset purchases rather than smaller ticket credit card purchases (page 4).
Consumer Unsecured: Charge-offs rose to its highest levels. When charge-offs were substantially below their peak, impairment increases were less meaningful; however, with charge-offs above pre-COVID averages, underlying impairment trends are even worse than the total numbers suggest. (page 14).
Subprime Auto: While charge-offs rose—largely in line with seasonal behavior—they are still below pre-COVID levels, but the difference is shrinking (page 28).
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