Not Paying Your Bills? Wall Street Worries That Too Many Credit Card Balances Are Turning Delinquent
Not Paying Your Bills? Wall Street Worries That Too Many Credit Card Balances Are Turning Delinquent
About 9.1% of credit card balances turned delinquent over the past 12 months to mark the highest rate in over a decade, according to an August report from the Federal Reserve Bank of New York.Stocks held by consumer-lending firms fell last week after Wall Street executives warned of lower-income borrowers' struggling to pay bills.
华尔街高管警告低收入借款人支付账单困难后，消费信贷公司持有的股票在上周下降。
What Happened: Banking executives at a recent Barclays conference in New York noted how delinquencies are on the rise, the Wall Street Journal reported.
巴克莱银行公司在纽约的一次近期会议上指出逾期还款正在上升。
The average interest rate on a credit card as of May was 21.51%, up from around 15% in 2019, Federal Reserve data shows.
根据美联储的数据，截至5月，信用卡的平均利率为21.51%，高于2019年的约15%。
About 9.1% of credit card balances turned delinquent over the past 12 months to mark the highest rate in over a decade, according to an August report from the Federal Reserve Bank of New York.
根据美联储纽约分行8月份的报告，过去12个月里，约有9.1%的信用卡余额逾期，这是十多年来的最高比例。
"What that tells you is if people do get behind on their payments in this environment, it's tougher to get out of them," TD Cowen analyst Moshe Orenbuch said.
“这告诉你，如果人们在这种环境下未能按时还款，那么要摆脱这些困境就更加困难了，”TD Cowen分析师摩西·奥伦布克说。
Read Also: 'The Time Has Come to Adjust' — Cheaper Mortgage Rates Could Be Just Weeks Away, But It All Hinges On This Data
阅读更多：《调整的时刻已经到来》——更便宜的抵押贷款利率可能只有几周时间，而这完全取决于这些数据
Why It Matters: Bread Financial, a credit card company that serves lower-income borrowers, said it expects higher charge-off rates — balances that banks write off as a result of lack of payments — this year.
面包金融是一家为低收入借款人提供信用卡的公司，该公司表示预计今年将会有更高的坏账率——即因付款不足而被银行注销的余额。
Late payments and charge-offs on auto loans were higher than expected in July and August as borrowers grapple with the cost of living and a worsening labor market, Ally Financial Inc. (NYSE:ALLY) CFO Russ Hutchinson said.
8月，Ally Financial Inc.（纽交所：ALLY）首席财务官Russ Hutchinson表示，汽车贷款的逾期付款和坏账率高于预期，借款人面临生活成本和恶化的劳动市场困境。
This worried investors because car payments are usually the last bills to go delinquent because cars are needed for transportation.
这让投资者担忧，因为汽车付款通常是最后一项被拖欠的账单，因为汽车是必需品，用于交通。
The average interest rate on a 60-month loan for a new car was 8.2% as of May, according to Fed data, up from 5.3% in 2019.
根据美联储数据，截至五月，新车60个月贷款的平均利率为8.2%，高于2019年的5.3%。
Over the past year, roughly 8% of auto loans turned delinquent, according to the New York Fed, the highest rate in over a decade.
根据纽约联储的数据，在过去的一年里，约有8%的汽车贷款逾期，这是十多年来的最高水平。
Price Action: Consumer-lending companies trended upward into Tuesday's early afternoon trading.
价格走势：消费金融公司在周二的早盘交易中出现上涨趋势。
- Enova International Inc. (NYSE:ENVA) rose 3.48% to $83.32
- Qifu Techhnology, Inc. (NASDAQ:QFIN) gained 1.02% to $25.17
- Regional Management Corp. (NYSE:RM) went up 2.4% to $33.25
- Enova International Inc.（纽交所：ENVA）上涨3.48%，至83.32美元。
- Qifu Techhnology, Inc.（纳斯达克：QFIN）上涨1.02%，至25.17美元。
- Regional Management Corp.（纽交所：RM）上涨2.4%，至33.25美元。
Car-loan providers also rose on Tuesday.
汽车贷款提供商在周二也上涨。
- Bank of America Corporation (NYSE:BAC) inched up 0.93% to $39.47
- Ally Financial gained 2.42% to $33.83
- Capital One Financial Corporation (NYSE:COF) picked up 3.13% to $145.36
- 美国银行（NYSE：BAC）微涨0.93％至39.47美元
- Ally Financial上涨2.42％至33.83美元
- 第一资本信贷公司（NYSE：COF）上涨3.13％至145.36美元
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Image: Shutterstock
图片：shutterstock
