| Title: | U.S. Credit Card Quality Index: The Rise In Charge-Offs Lost Steam In May, And Overall Trust Performance Was Mixed |
| Price: | $500.00 |
| Publication Date: | Jul 14, 2008 |
| Report Type: | Commentary |
| Abstract: | Charge-offs rose again, but only slightly, in May among the trusts in Standard&Poor's Ratings Services' U.S. bankcard Credit Card Quality Index (CCQI), turning in a 10 basis point (bp) increase. The total payment rate, aided by tax rebates, increased to the highest level we've seen since January, while total delinquencies dropped another 10 bps. Excess spread, which provides the first level of protection against defaults, remained healthy at 7.1%. In addition, credit card asset-backed securities (ABS) issuance continued to be robust, with approximately 36 transactions closing in May. We observed the following key patterns during May 2008: Charge-offs increased 10 bps to 6.0% from April; Delinquencies in the 30- and 60-plus-day categories were down 10 bps to 4.3% |
| Brief Excerpt: | RESEARCH Ratings Definitions U.S. Credit Card Quality Index: The Rise In Charge-Offs Lost Steam In May, And Overall Trust Performance Was Mixed Publication date: ##-Jul-#### Primary Credit Analyst: Kelly Luo, New York (#) ###-###-####;... |
| Word Count: | 3049 |
| Sector: | Structured Finance, Real Estate Companies, Asset-Backed Commercial Paper, Commercial MBS, Residential MBS, Servicer Evaluations, Asset-Backed Securities, Collateralized Debt Obligations |
| Format: | 
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