New York Fed has met with concerns about short term funding pressures.
New York Fed Reports Increase in Delinquency Rates and Household Debt in Third Quarter
The New York Fed reported a rise in delinquency rates for most types of borrowing in the third quarter, with mortgage balances increasing by $137 billion to $13.1 trillion. Additionally, credit card balances surged by $24 billion to $1.23 trillion. Despite this, the transition rate into early delinquency showed mixed results, while the transition into delinquency rate stabilized. Household debt also saw a 1% increase, totaling $18.6 trillion.
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