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.
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. 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. 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. 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.
The Federal Deposit Insurance Corp. proposed shifting the burden for protecting depositors against bank failures toward larger lenders whose reliance on riskier funding sources may pose a greater threat to the financial system.
Citigroup Inc. stopped soliciting clients for some retail banking products in Japan as it awaits the outcome of a government investigation into its compliance with local rules, two people with knowledge of the matter said.