U.S. bank-card delinquencies have dropped to their lowest levels in more than 18 years as borrowers maintain a conservative approach to personal finances, according to an American Bankers Association report.
U.S. bank-card delinquencies fell to the lowest level in 18 years as consumers strengthened their personal finances amid uncertainty over the nation’s economy, the American Bankers Association said in a quarterly report.
U.S. banks had $141.3 billion in net income last year, the second-best on record behind the $145.2 billion total reported for 2006, on non-interest income and lower loss provisions, the Federal Deposit Insurance Corp. said.
Clients of the largest U.S. banks withdrew funds this month at the fastest weekly pace since the Sept. 11 attacks as a deposit-insurance program ended and customers tapped into their year-end cash hoards.
U.S. banks had net income of $37.6 billion in the third quarter, a 6.6 percent increase over the year-earlier period as operating revenue grew the most in almost three years, the Federal Deposit Insurance Corp. said.
U.S. regulators have asked some banks to take more deposits from large investors even if it’s unprofitable, and lenders in return are seeking relief on insurance premiums and leverage ratios, according to six people with knowledge of the talks.
U.S. consumer-loan delinquencies dropped to their lowest level in nearly six years during the second quarter of 2012 as households prioritized debt service over spending increases, the American Bankers Association said.