U.S. Banks Commercial Real Estate Noncurrent Rate (All Banks)

## What this measures

Commercial real estate loans 90 days or more past due and still accruing plus those on nonaccrual, as a percent of commercial real estate loans, summed over every bank that filed a Call Report for the quarter. Commercial real estate here is construction and land development, multifamily, and nonfarm nonresidential loans secured by real estate.

## Why it matters

Commercial real estate is the loan book that broke many banks in 2009 to 2011, and office and multifamily loans are under pressure again after the rate rise. This rate is the clearest public read of CRE credit stress at banks.

## How to read it

Higher means more CRE loans have stopped paying. The all-bank rate peaked near 7.5% in early 2010 and fell under 0.5% by 2019. Smaller and mid-size banks hold the most CRE relative to capital, so compare the size bands.

## What it does not say

It covers loans secured by real estate in domestic offices; loans to REITs and CRE funds that are not secured by real estate are not in it. Loans modified or extended to avoid default can stay current. Size bands use each bank’s total assets in the quarter, in nominal dollars, so banks move between bands as they grow and the bands hold more banks over time than they would in constant dollars. Figures are for individual bank charters, not holding companies.

## How it's built

Sum over banks of RC-N items for construction (F174, F175 past due 90+; F176, F177 nonaccrual), multifamily (3500; 3501) and nonfarm nonresidential (F180, F181; F182, F183), divided by the sum of the same loans on RC-C (F158, F159, 1460, F160, F161). Domestic office (RCON) items. History from the first quarter of 2008.

## Source

Federal Financial Institutions Examination Council, Central Data Repository, Call Reports bulk data ("Call Reports -- Single Period", cdr.ffiec.gov), every insured U.S. commercial bank and savings institution that files a Call Report; U.S. government work. Refreshed by /api/cron/bank-call-reports-sync, which checks weekly for a new quarter (banks file 30 days after quarter end; the full set is usually complete about 45 days after).