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Data & Analysis

Financial Services - September 2008

Data Sources on the Web
Federal Deposit Insurance Corporation
Mortgage Bankers Association
Seriously Delinquent Rates on Subprime Mortgages by State: Second Quarter 2008
Seriously Delinquent Loans
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Source: Mortgage Bankers Association

Seriously Delinquent Rates on Subprime Mortgages by State: First Quarter 2008
Seriously Delinquent Loans
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Source: Mortgage Bankers Association

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Sixth District Commercial and Industrial Loans
Sixth District Commercial and Industrial Loans
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Source: Quarterly Call Reports (Federal Reserve Bank of Atlanta)
Data and Analysis

Financial Services

September 2008

Financial market conditions remained constrained in September. Credit availability continued to be tight. The number of seriously delinquent loans increased in the District, indicating further deterioration in credit quality. Deposit growth at Sixth District banks was marginally positive in the second quarter after three quarters of negative growth.

Consumer Lending
Commercial and Industrial Lending

Consumer Lending
The percentage of seriously delinquent loans in the subprime mortgage segment increased in the second quarter of 2008 for the Sixth District states. The percentage of seriously delinquent conventional subprime mortgages was 12.4 (up from 12 percent in the first quarter of 2008) in Alabama; 26.3 percent (up from 22.2 percent) in Florida; 15 percent (up from 14.6 percent) in Georgia; 13.8 percent (up from 13.6 percent) in Louisiana; 16.1 percent (down from 16.2 percent) in Mississippi; and 12.6 percent (up from 12.4 percent) in Tennessee. Mississippi was the only state that saw a marginal decline in seriously delinquent subprime mortgages in the second quarter.

Data for banks headquartered in the Sixth District indicate that loans secured by real estate grew by 2 percent on a year-over-year basis. Credit card debt extended by District banks again showed strong growth in the second quarter of 2008 compared to a year earlier and has been growing since the first quarter of 2007.

Commercial and Industrial Lending
Commercial and industrial lending for banks headquartered in the Sixth District increased by 12.4 percent in the second quarter of 2008 compared to a year earlier.


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