| Title: | U.S. Credit Card Quality Index: Charge-Offs Kept Rising In March, But Overall Trust Performance Was Strong |
| Price: | $500.00 |
| Publication Date: | May 05, 2008 |
| Report Type: | Commentary |
| Abstract: | Charge-offs continued to mount in March 2008 among the trusts in Standard&Poor's Ratings Services' U.S. bankcard Credit Card Quality Index (CCQI), as they have for the past year. But in spite of the 50-basis-point (bp) increase over February, charge-offs still remained well below the average high of 7.1% reported between 2002 and 2003. In addition, robust excess spread, which provides the first level of protection against defaults, and a high payment rate both contributed to solid trust performance in March. We observed the following key patterns during March 2008: Charge-offs continued to rise, increasing 50 bps to 5.7% from February; Delinquencies in the 30- and 60-plus-day categories were unchanged at 4.5% and 3.2%, respectively, while 90-plus-day delinquencies were |
| Brief Excerpt: | RESEARCH Ratings Definitions U.S. Credit Card Quality Index: Charge-Offs Kept Rising In March, But Overall Trust Performance Was Strong Publication date: ##-May-#### Primary Credit Analyst: Kelly Luo, New York (#) ###-###-####; kelly_luo@standardandpoor... |
| Word Count: | 3094 |
| Sector: | Structured Finance, Servicer Evaluations, Asset-Backed Securities, Collateralized Debt Obligations, Real Estate Companies, Asset-Backed Commercial Paper, Commercial MBS, Residential MBS |
| Format: | 
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