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.
華爾街高管警告低收入借款人支付賬單困難後，消費信貸公司持有的股票在上週下降。
What Happened: Banking executives at a recent Barclays conference in New York noted how delinquencies are on the rise, the Wall Street Journal reported.
巴克萊銀行公司在紐約的一次近期會議上指出逾期還款正在上升。
The average interest rate on a credit card as of May was 21.51%, up from around 15% in 2019, Federal Reserve data shows.
根據聯儲局的數據，截至5月，信用卡的平均利率爲21.51%，高於2019年的約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.
根據聯儲局紐約分行8月份的報告，過去12個月裏，約有9.1%的信用卡餘額逾期，這是十多年來的最高比例。
"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.
「這告訴你，如果人們在這種環境下未能按時還款，那麼要擺脫這些困境就更加困難了，」TD Cowen分析師摩西·奧倫布克說。
Read Also: 'The Time Has Come to Adjust' — Cheaper Mortgage Rates Could Be Just Weeks Away, But It All Hinges On This Data
閱讀更多：《調整的時刻已經到來》——更便宜的抵押貸款利率可能只有幾周時間，而這完全取決於這些數據
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.
麪包金融是一家爲低收入借款人提供信用卡的公司，該公司表示預計今年將會有更高的壞賬率——即因付款不足而被銀行註銷的餘額。
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.（紐交所：ALLY）首席財務官Russ Hutchinson表示，汽車貸款的逾期付款和壞賬率高於預期，借款人面臨生活成本和惡化的勞動市場困境。
This worried investors because car payments are usually the last bills to go delinquent because cars are needed for transportation.
這讓投資者擔憂，因爲汽車付款通常是最後一項被拖欠的賬單，因爲汽車是必需品，用於交通。
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.
根據聯儲局數據，截至5月，新車60個月貸款的平均利率爲8.2%，高於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.
據紐約聯儲稱，過去一年約8%的汽車貸款出現拖欠，是十年來最高的水平。
Price Action: Consumer-lending companies trended upward into Tuesday's early afternoon trading.
價格走勢：消費金融公司在週二的早盤交易中出現上漲趨勢。
- 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.（紐交所：ENVA）上漲3.48%，至83.32美元。
- Qifu Techhnology, Inc.（納斯達克：QFIN）上漲1.02%，至25.17美元。
- Regional Management Corp.（紐交所：RM）上漲2.4%，至33.25美元。
Car-loan providers also rose on Tuesday.
汽車貸款提供商在週二也上漲。
- 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
- 美國銀行（NYSE：BAC）微漲0.93％至39.47美元
- Ally Financial上漲2.42％至33.83美元
- 第一資本信貸公司（NYSE：COF）上漲3.13％至145.36美元
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Image: Shutterstock
圖片：shutterstock
譯文內容由第三人軟體翻譯。
