...Asset Performance Ends 2015 Near Record Levels: Chargeoff performance maintained near-record levels in 4Q15, while delinquencies remained relatively steady. Both delinquencies and loss movement trended downward throughout the year and continued to beat previous records, reaching all-time historical lows. Borrowers Remain Disciplined: There was little change in borrower behavior as MPR performance continued to be orderly. Overall 4Q15 levels dipped slightly from the third quarter, which reached the highest peak in August. Excess Spread Holds Steady: Excess spread remained steady in 4Q15. It maintained at its peak of 14%. Current levels more than doubled in performance from the crisis at end of 2009. ABS Outstandings Drop for Second Straight Quarter: Credit card ABS outstandings declined slightly in 4Q15 for the second consecutive time in 12 quarters. The drop puts current outstandings at roughly $143 billion....
