...The Turquoise trust reported a charge-off rate of 3.9% in November, up from 1.5% in October, driven by HSBC's decision to charge-off accounts that were delinquent by more than 180 days - in line with the trust's charge-off policy. As a result, over 180 delinquencies decreased from GBP4.2m in October to GBP0.6m in November 2014. Charge-off rate was below 2% again in December and all delinquency buckets improved throughout 4Q14 from 3Q14, indicating this was a one-off event and the charge-off ratio of the trust will move back to its trend level. The overall impact to the 3MA charge-off index was partly offset by improved charge-offs reported by some other trusts, resulting in a marginal increase of 10 basis points in the charge-off index in 4Q14. The delinquency index was not affected as it refers to 60-180 days past due accounts only....
