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Delinquencies
Delinquencies are an indicator of credit quality at a point in time. A loan balance is considered delinquent when
contractual payments on the loan become 30 days past due.
The following table presents the amounts and delinquency rates of key loan products that are 30 and 90 days or
more delinquent, loan receivables that are not accruing interest, regardless of delinquency and restructured loans
(dollars in millions):
Calendar Years Ended December 31, Fiscal Years Ended November 30, One Month
Ended
December 31,
2012
2015 2014 2013 2012 2011
$ % $ % $ % $ % $ % $ %
Loans 30 or more days
delinquent
Credit card loans................ $ 995 1.72% $ 971 1.73% $ 912 1.72% $ 925 1.86% $1,117 2.38% $ 917 1.79%
Personal loans.................... $ 49 0.89% $ 40 0.79% $ 29 0.70% $ 25 0.76% $ 22 0.87% $ 26 0.77%
Private student loans
(excluding PCI loans(1))...... $ 108 1.91% $ 87 1.80% $ 66 1.66% $ 32 1.07% $ 13 0.63% $ 37 1.22%
Loans 90 or more days
delinquent
Credit card loans................ $ 490 0.85% $ 480 0.85% $ 447 0.84% $ 451 0.91% $ 560 1.19% $ 460 0.90%
Personal loans.................... $ 15 0.27% $ 11 0.22% $ 8 0.21% $ 8 0.23% $ 7 0.28% $ 8 0.23%
Private student loans
(excluding PCI loans(1))...... $ 24 0.43% $ 25 0.52% $ 18 0.46% $ 8 0.27% $ 3 0.14% $ 9 0.29%
Loans not accruing interest ...... $ 224 0.32% $ 183 0.28% $ 200 0.33% $ 198 0.35% $ 207 0.40% $ 192 0.33%
Restructured loans
Credit card loans(2) ............. $1,019 1.76% $1,037 1.85% $1,123 2.11% $1,332 2.68% $1,217 2.59% $1,309 2.56%
Personal loans(3) ................. $ 68 1.24% $ 55 1.10% $ 31 0.74% $ 21 0.64% $ 8 0.29% $ 21 0.65%
Private student loans
(excluding PCI(1))(4) ............ $ 48 0.85% $ 38 0.78% $ 28 0.71% $ 15 0.50% $ 5 0.26% $ 16 0.53%
(1) Excludes PCI loans which are accounted for on a pooled basis. Since a pool is accounted for as a single asset with a single composite interest rate and aggregate
expectation of cash flows, the past-due status of a pool, or that of the individual loans within a pool, is not meaningful. Because we are recognizing interest income
on a pool of loans, it is all considered to be performing.
(2) Restructured loans include $44 million, $44 million, $43 million, $54 million, $56 million and $38 million at December 31, 2015, 2014, 2013 and 2012 and
November 30, 2012 and 2011, respectively, that are also included in loans over 90 days delinquent or more.
(3) Restructured loans include $4 million, $3 million, $2 million, $2 million and $1 million at December 31, 2015, 2014, 2013 and 2012 and November 30, 2012,
respectively, that are also included in loans over 90 days delinquent or more.
(4) Restructured loans include $3 million, $5 million, $3 million, $2 million and $2 million at December 31, 2015, 2014, 2013 and 2012 and November 30, 2012,
respectively, that are also included in loans over 90 days delinquent or more.
Credit card loan 30-day and 90-day delinquency rates at December 31, 2015 remained stable compared to
December 31, 2014. Personal loans 30-day and 90-day delinquency rates at December 31, 2015 increased slightly as
compared to December 31, 2014 due to seasoning of the loan portfolio. Private student loans 30-day delinquency rates
at December 31, 2015 increased as compared to December 31, 2014 as a result of continued seasoning of the student
loan portfolio as more loans have entered repayment. Private student loans 90-day delinquency rates at December 31,
2015 decreased slightly as compared to December 31, 2014. The overall trend is relatively flat.
Credit card loans 30-day and 90-day delinquency rates at December 31, 2014 were relatively flat as compared
to December 31, 2013. The 30-day delinquency rate for personal loans increased slightly for the same period due to
seasoning of the loan portfolio, while the 90-day delinquency rate remained relatively flat. The 30-day and 90-day
delinquency rates for private student loan balances at December 31, 2014 increased compared to the prior year as a
result of continued seasoning of the student loan portfolio.