U.S. Quarterly Credit Quality Update

• As delinquencies and charge-offs hover near pre-recession lows for consumer and commercial lending, banks remained focus on residential loan quality. While we have seen improvement, the mortgage delinquency rate remains above 8.0% vs. 5.0% before the crisis • Household debt has recovered from the recession and consumers are looking to leverage once again. At the same time, commercial banks are maintaining relatively easy lending standards on credit cards and other consumer loans as the quality of borrowers improves

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