The New York Times has taken the recently released loan data from the FDIC and charted the changes in loan delinquencies from 1985 to present, and it becomes quite obvious just how bad the current “recession” is.
As can be seen in the accompanying chart, banks charged off 2.9 percent of the outstanding loans in late 2009. The F.D.I.C. said that was the highest rate since the agency was formed in 1934. In addition, 5.4 percent of all loans were at least 90 days behind, and another 1.9 percent were more than 30 days overdue.
If there is any reassuring news in the figures, it may be that fewer loans are now going bad. The proportion of loans that are 30 to 89 days behind in payments has fallen since peaking earlier in 2009, while the percentage of loans more than 90 days behind has continued to rise.
See the full graphic below, or at the NYTimes.
via Off the Charts – Ratio of Troubled Loans Means Banks Aren’t Out of the Woods – NYTimes.com.
