Discussion Paper

Just Released: Who Is Driving the Auto Lending Recovery?


Abstract: This morning, the New York Fed released its Quarterly Report on Household Debt and Credit for the second quarter of 2013. It shows a $78 billion decline in overall household debt from the previous period. Delinquency rates improved considerably, with the overall ninety-plus day delinquency rate falling to 5.7 percent, the lowest it has been since mid-2008. The Quarterly Report is based on data from the New York Fed?s Consumer Credit Panel, a nationally representative sample drawn from anonymized Equifax credit data.

Keywords: Auto loans; Household credit; subprime;

JEL Classification: D1;

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Provider: Federal Reserve Bank of New York

Part of Series: Liberty Street Economics

Publication Date: 2013-08-14

Number: 20130814a