US serious delinquencies are skyrocketing.

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The share of credit card debt that is delinquent 90+ days reached 12.3% in Q2 2025, the highest since Q2 2011.

This is just 1.4 percentage points below the all-time high.

Furthermore, 5.0% of auto loans are now seriously delinquent, only 0.3 percentage points below the record set in Q4 2010.

Meanwhile, student loan serious delinquencies spiked 9.4 percentage points over the last 2 quarters to 10.2%, the highest since Q1 2020.

US consumers are falling behind on debt payments at rates rarely seen before.

Banks are sitting on $500 billion in unrealized losses, and stagflation could cause another Silicon Valley Bank-like crisis

https://fortune.com/2025/05/14/banks-500-billion-unrealized-losses-stagflation-svb-crisis/