U.S. credit card debt reaches 1.26 trillion dollars, nearing all-time record

Credit card debt balances in the United States increased by 21 billion U.S. dollars to 1.26 trillion dollars in the second quarter of this year, according to a report released by the Federal Reserve Bank of New York's Center for Microeconomic Data on Tuesday.

It represents an increase of 1.7 percent compared with the first quarter, and also approaches the record high of 1.28 trillion dollars set in the fourth quarter of last year.

Meanwhile, transitions into serious delinquency ticked up 0.04 percentage points year on year to 6.97 percent. For U.S. borrowers, serious delinquency means more than 90 days past due on payments.

At the end of June, auto loan balances reached 1.71 trillion dollars, an increase of 28 billion dollars, and home equity lines of credit balances increased by 13 billion dollars to 459 billion dollars, according to the report.

Chinese and Belarusian airborne troops launched the "Swift Eagle 2026" joint drills on Wednesday in central China's Hubei Province.

Marking the fourth iteration of the "Swift Eagle 2026" series, the drills center on subjects including surveillance and counter-surveillance, seizure-and-control and protection, elimination and defense.

This exercise focuses on joint urban counter-terrorism operations, aiming to strengthen the combined operational capabilities for carrying out counter-terrorism missions. It is expected to support regional peace and stability and help further enhance the combat capabilities of the participating troops while deepening practical cooperation between the two armies.

"This joint training exercise is an important opportunity for in-depth military interaction and cultural exchange between our officers and soldiers. We will conduct in-depth exchanges of training concepts and experiences through modular mixed formations, and enhance our joint counter-terrorism combat capabilities through mutual learning and interaction," said Cheng Qiang, a member of the Chinese troops.