Large Bank Credit Card and Mortgage Data

The Large Bank Consumer Credit Data are based on FR Y-14M credit card and mortgage data provided by the largest financial institutions in the United States.

The respondent panel comprises U.S. bank holding companies, U.S. intermediate holding companies of foreign banking organizations, and covered savings and loan holding companies with $100 billion or more in total consolidated assets. These institutions are required to report credit card or first-lien mortgage data if portfolio balances exceed $5 billion or are material relative to Tier 1 capital. Firms with over $100 billion in total consolidated assets that do not meet these thresholds may also voluntarily provide FR Y-14M data. The reporting provides users with aggregate data on credit card and first-lien mortgages including portfolio composition, credit performance, origination activities, credit card payment behavior, and credit card line utilization. This publication will be released on a quarterly frequency.

Latest Release

Last updated: October 3, 2022

Large bank mortgage origination volumes were flat in the second quarter of 2022 after declining sharply in the prior quarter. Rising mortgage rates have limited refinancing demand. This contrasts with 2021, which saw the largest annual volume of originations since 2012 accompanied by rapid house price increases. Mortgage origination loan-to-values (LTVs) are increasing to pre-pandemic levels, rising from 68 percent in fourth quarter 2021 to 75 percent in second quarter 2022. As refinance demand and originations fall, purchase loans constitute a greater share of new originations, which has pushed LTVs higher.

Credit card originations have fully recovered to historic norms. Furthermore, higher credit limits are being made available to new accounts compared with a year ago. Coupled with an overall increase in consumer spending, credit card balances grew 16 percent year over year. This was the fastest annual growth in at least 10 years, due in part to credit card balances that were near a pandemic low the year before.

Delinquency rates remain historically low for both first mortgage and credit cards, though credit card delinquency rates are trending upward. Lower delinquencies in mortgages reflect the very rapid house price appreciation recently, which could change as house prices moderate or even decline in certain areas. Read the full report.

Second Quarter 2022

Credit Card Balances Credit Card Originations First-Lien Mortgage Balances First-Lien Mortgage Originations
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