by Calculated Risk on 4/17/2009 09:47:00 AM
Friday, April 17, 2009
First, Citi has committed to "tell the market exactly" the results of the stress tests:
[I]t made sense to delay the launch of the exchange offer until we could tell the market exactly what the results of the stress test are.And from the investor presentation:
Citigroup, April 17, 2009
Click on graph for larger image in new window.
Note the rapid rise in card NCLs. NCLs jumped from 8.04% in Q4 to 10.18% in Q1 2009.
Mortgage NCLs are rising sharply too.
The second graph shows the 90+ Days Past Due (DPD) trend for 1st and 2nd mortgages, and the Net Credit Losses.
The 90+ DPD is increasing rapidly for 1st mortgages - jumping from 5.71% in Q4, to 7.15% in Q1 2009.
Credit losses are still rising rapidly at Citi.
Posted by Calculated Risk on 4/17/2009 09:47:00 AM