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  "documentTitle": "2022 consumer community banking investor day",
  "authorId": "JPMorgan",
  "authorName": "JPMorgan Chase & Co.",
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  "notes": "The slide uses a combination of qualitative bullet points and a quantitative table to support the thesis of slow credit normalization.",
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      "kind": "callout",
      "text": "Given the above, we continue to expect normalization to take time",
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      "text": "Consumer balance sheets are strong, with high levels of liquidity and record low debt to income ratios. Leading credit indicators – notably early delinquency roll-rates – remain low. Card entry to delinquency rates reached a low point in 2Q21 – yet to inflect. Auto charge-off rates were lowest in 2Q21 – increasing but still below historical levels. Structurally, we do not expect that there has been a long-term change in consumer credit behaviors. Given the above, we continue to expect normalization to take time",
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      "text": "Net Charge-off rate",
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      "text": "1. Excludes Paycheck Protection Program loans",
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      "text": "Net Charge-off Guidance table showing NCO rates for Card, Auto, Home Lending, and Business Banking from 2019 to 2022 Outlook.",
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      "text": "We expect credit normalization to take time",
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