Deferrals Data, January 2021

Only 9% of original deferrals remain deferred.

At January 31, total outstanding deferrals are just 9% of all loans that were deferred. Just 5% of small business loans remain deferred and 13% of housing loans. This means that there are about half the number of loans deferred in January that there were in December (as a reminder in December roughly 16% of loans remained deferred consisting of 10% of small business and 22% of housing).

On the books of the 4 majors, just 0.7 % of all small business loans, 1.4% of housing loans, and 0.5% of all loans are currently deferred.

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Table 1: Repayment deferrals requested & outstanding, $, N & %, January 31 2021

	Small business	Housing	Total
	VALUE	NUMBER	VALUE	NUMBER	VALUE	NUMBER
	$	N	$	N	$	N
Total requested to date	$55,934,733,245	239,976	$182,395,960,288	449,621	$259,049,579,798	839,537
Exits to date	$58,025,299,575	217,171	$180,594,989,904	451,112	$259,090,624,929	794,399
Credit outstanding	$2,509,114,218	11,263	$25,453,687,848	60,562	$28,776,726,069	78,556
Relative to all deferred	4%	5%	14%	13%	11%	9%
Relative to all loans	1.0%	0.7%	1.8%	1.4%	1.3%	0.5%

Note: Value and number of loan deferrals exited are larger than number and value of loan deferrals requested. This is due to loans being classified as exited where they had also been extended.

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86% of all loan exited to performing status

Of all loans that have been exited, the majority (86%) exited to performing status (91% of small business loans and 85% of housing loans). These remain the same proportions as reported in December. Non-performing loans accounted for only 1.4% of exits to date, up from 1.2% in December. This consists of 0.8% of small business loans and 1.6% of housing loans. A further 3.3% of loans have been repaid in full, consisting of (4% of small business loans and 2.6% of housing loans).

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Table 2a: Loan deferral applications & exits, Small business, Housing & Total, N & $, March – January 31, 2021

		Small Business		Housing
		Value	Number	Value	Number	Value Number
	Total exits to date	$58,025,299,575	217,171	$180,594,989,904	451,112	$259,090,624,929	794,399
	O/w: performing	$51,916,392,161	198,391	$152,971,814,592	384,203	$220,806,504,302	686,420
	O/w: restruct. & perf.	$914,500,279	1,702	$3,187,307,656	7,031	$4,239,581,114	9,033
	O/w: non-commercial terms	No banks reported data.
	O/w: non-performing	$643,098,856	1,792	$3,005,719,587	7,668	$4,072,193,096	10,856
	O/w: outcome under neg.	Only one bank reported data.
	O/w: def. extended	$2,240,036,903	6,276	$20,468,514,961	48,527	$23,780,730,595	67,503
	O/w: repaid in full	$2,317,085,950	8,767	$4,463,485,189	11,837	$8,047,339,081	26,417

Note: Values have been removed where only one bank reported data. These values have not been used to calculate the overall percentages.

Note: Deferrals extended may include double counts, therefore the value and number of total deferral exits is less than the sum of the number and value of combined exit sub-categories. Percentages are calculated directly between sub-categories and the total exits as per the original reporting by banks.

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Table 2b: Loan deferral applications & exits, Small business, Housing & Total, %, March – January 31, 2021

	Small business		Housing
	Value	Number	Value	Number	Value
Total exits to date	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Of which: performing	89.5%	91.4%	84.7%	85.2%	85.2%	86.4%
O/w: restruct. & perf.	1.6%	0.8%	1.8%	1.6%	1.6%	1.1%
Of which: non-commercial terms	No banks reported data.
Of which: non-performing	1.1%	0.8%	1.7%	1.7%	1.6%	1.4%
Of which: outcome under negotiation	Only one bank reported data.
Of which: deferral extended	3.9%	2.9%	11.3%	10.8%	9.2%	8.5%
Of which: repaid in full	4.0%	4.0%	2.5%	2.6%	3.1%	3.3%

Note: Values have been removed where only one bank reported data. These values have not been used to calculate the overall percentages.

Note: Deferrals extended may include double counts, therefore the value and number of total deferral exits is less than the sum of the number and value of combined exit sub-categories. Percentages are calculated directly between sub-categories and the total exits as per the original reporting by banks.

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DatadeferralsJanuaryJanuary 2021