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Credit card delinquencies, based on total dollars outstanding, rose to its highest level ever in the first three months of this year. According to the American Bankers Association’s “Consumer Credit Delinquency Bulletin,” delinquencies based on total dollars outstanding for the first quarter were 6.60%, compared to 5.52% in the fourth quarter and 4.59% one-year ago. Based on the number of accounts past-due, the figures were 4.75% for the first quarter, 4.52% for the fourth quarter, and 4.51% one-year ago. The ABA also reported the following changes between the fourth quarter and the first quarter: Home equity loan delinquencies increased from 3.03% to 3.52%; property improvement loan delinquencies decreased from 1.75% to 1.46%; indirect auto loan delinquencies decreased from 3.53% to 3.42%; direct auto loan delinquencies increased from 2.03% to 3.01%; marine loan delinquencies decreased from 2.35% to 2.04%; RV loan delinquencies increased from
1.38% to 1.52%; mobile home loan delinquencies increased from 2.96% to 3.70%; and personal loan delinquencies increased from 2.88% to 3.47%.

                1Q CREDIT CARD DELINQUENCY HISTORY
               (based on total dollars outstanding)
                           2000:   3.94%
                           2001:   4.13%
                           2002:   4.50%
                           2003:   4.51%
                           2004:   4.65%
                           2005:   3.76%
                           2006:   3.44%
                           2007:   3.46%
                           2008:   4.59%
                           2009:   6.60%
                 Source: ABA Delinquency Bulletin

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