The Federal Reserve reported a sharp rise in delinquencies, especially credit cards and auto loans. That wasn't all, as the New York branches also showed record high rejections strongly indicating where things really stand in the credit cycle. As a result, we have to pay some attention to CRTs, otherwise known as SRTs, the latest financial engineering akin to the 2020s version of credit default swaps. 

Eurodollar University's Money & Macro Analysis

FRBNY Household Debt and Credit Report Q3 2024
https://www.newyorkfed.org/microeconomics/hhdc/background.html

Bloomberg Ally Auto Borrowers With 2022 Loans Now Struggling, CFO Says
https://www.bloomberg.com/news/articles/2024-11-07/ally-auto-borrowers-with-2022-loans-now-struggling-cfo-says

Bloomberg Ally’s Charge-Offs, Bad-Loan Provisions Beat Expectations
https://www.bloomberg.com/news/articles/2024-07-17/auto-lender-ally-reports-stronger-than-expected-debt-management

Federal Reserve Frequently Asked Questions about Regulation Q
https://www.federalreserve.gov/supervisionreg/legalinterpretations/reg-q-frequently-asked-questions.htm

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