Federal Reserve Bank of New York

Rejection Rate for Credit Applicants Hits Highest Level Since 2018
Rejection Rate for Credit Applicants Hits Highest Level Since 2018
July 17, 2023  |  Consumer Finance

The overall rejection rate for credit applicants hit its highest level in five years in June. The rejection rate of 21.8% was the highest level...

READ MORE >
NY Fed Teams With Singapore on Multicurrency Cross-Border CBDC Project
NY Fed Teams With Singapore on Multicurrency Cross-Border CBDC Project
May 19, 2023  |  CBDC

Cross-border payments are a major railway for facilitating the functioning of the global economy. Yet they face significantly greater challenges including slower speeds, more restricted...

READ MORE >
NY Fed: Mortgage Originations Dropped, Debt Delinquencies Rose in Q1
NY Fed: Mortgage Originations Dropped, Debt Delinquencies Rose in Q1
May 15, 2023  |  Consumer Finance

Mortgage originations dropped and debt delinquencies rose during the first quarter. These trends happened as total household debt rose $148 billion, or 0.9%, in the...

READ MORE >
Lenders May Seek Better Tools as Millennial Debt Delinquency Expectations Rise
Lenders May Seek Better Tools as Millennial Debt Delinquency Expectations Rise
March 14, 2023  |  Debt

Monthly government release reflects what lenders’ recent earnings reports have hinted: millennials are sinking in debt. The Federal Reserve Bank of New York released its...

READ MORE >
Household Pressures Mount as Revolving Card Debt Creeps Up
Household Pressures Mount as Revolving Card Debt Creeps Up
February 17, 2023  |  Consumer Finance

The American consumer still has some dry powder left when it comes to credit. But the revolving balances we’re carrying — and which increased into...

READ MORE >
Consumer Confidence in Household Income Growth Plunges
Consumer Confidence in Household Income Growth Plunges
February 13, 2023  |  Economy

Consumers’ confidence in income growth took a hit in January. Their median expected growth in household income dropped by 1.3 percentage points — the largest...

READ MORE >
New York Fed Report Sees Some Inflation Relief Despite Consumer Fears
New York Fed Report Sees Some Inflation Relief Despite Consumer Fears
January 09, 2023  |  Economy

Consumers’ inflation perceptions are consistently higher than government figures. The Federal Reserve Bank of New York’s closely watched Survey of Consumer Expectations for December, released...

READ MORE >
NY Fed: Consumers Stick With Credit Cards as Balances Grow
NY Fed: Consumers Stick With Credit Cards as Balances Grow
November 21, 2022  |  Credit Cards

Consumer credit demand has been on the decline this year, except when it comes to new applications for credit cards. That’s according to the latest...

READ MORE >
NY Fed: Household Debt Climbs to $16.5T
NY Fed: Household Debt Climbs to $16.5T
November 16, 2022  |  Debt

New data from the Federal Reserve Bank of New York shows American household debt continuing to climb, with credit card balances jumping at their largest...

READ MORE >