| September 9, 2010

Bank risk professionals expect delinquency rates to rise

A new study released by FICO this week found 73 percent of bank risk professionals expect the number of borrowers to either rise or remain steady in the next six months. The results are aimed toward emphasizing the gap between credit supply and demand. More consumers may be inclined to borrow, but analysts say that tighter lending standards may prevent this from happening.

FICO says 85 percent of survey respondents also felt that credit card delinquency rates were likely to hold steady or increase within the next six months. The amount of credit cards opened by consumers dropped 17.7 percent from last year, Bankrate notes, showing that Americans are steering away from borrowing as they attempt to pay down their current debt.

Forty-six percent of the FICO survey respondents say they expect lending standards to become more restrictive or remain flat over the next six months as well. Without the opportunity to obtain credit, however, Americans may be deterred from spending.

Nearly 70 percent of economic growth is accounted for by consumer spending. The standards set by lenders are expected to play a large role in how well the economy recovers throughout the rest of the year.

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