... Losses Begin to Lose Steam: While delinquency rates continued to beat previous quarter results, chargeoff levels began to lose momentum as performance edged up in 2Q14. However, with delinquencies easing for three straight months during this quarter, the increase in losses is expected to be temporary and predicted to improve again. Borrower Behavior Positive Trends Persisted: Average 2Q14 monthly payment rates (MPRs) continued to rise to all-time historical levels, enduring upward trends observed from the previous quarter. The credit quality of borrowers remained stellar as consumers kept their payment obligations in check. Excess Spread Continued Trajectory: Excess spread in 2Q14 attained new highs and rose further for the eighth consecutive quarter. Robust excess spread levels surpassed the 13% mark for the first time this quarter. ABS Outstandings Back to 30-Month High: After rising consistently for six consecutive quarters, credit card...
