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S&P/Experian Consumer Credit Default Indices Show Composite Rate at Highest Level of Year in August 2019

All Loan Types Except Bank Cards Show Higher Default Rates

NEW YORK, Sept. 17, 2019 /PRNewswire/ -- S&P Dow Jones Indices and Experian released today data through August 2019 for the S&P/Experian Consumer Credit Default Indices. The indices represent a comprehensive measure of changes in consumer credit defaults and show that the composite rate rose seven basis points to 0.92%. The bank card default rate fell four basis points to 3.73%. The auto loan default rate was up nine basis points to 0.98%, and the first mortgage default rate increased seven basis points to 0.69%.

Four of the major metropolitan statistical areas ("MSAs") showed higher default rates compared to last month. Chicago and Dallas showed the largest increase, each up 10 basis points, to 1.05% and 0.93% respectively. The default rate for New York rose five basis points to 0.94%, while the rate for Los Angeles rose three basis points to 0.77% . Miami was the only MSA with a decrease in default rates, down six basis points to 1.28%.

The table below summarizes the August 2019 results for the S&P/Experian Consumer Credit Default Indices. These data are not seasonally adjusted and are not subject to revision.


National Indices





 

Index

August 2019
 Index Level

July 2019
 Index Level

August 2018
 Index Level

Composite

0.92

0.85

0.87

First Mortgage

0.69

0.62

0.65

Bank Card

3.73

3.77

3.52

Auto Loans

0.98

0.89

0.97

Source: S&P/Experian Consumer Credit Default Indices

Data through August 2019

The table below provides the index levels for the five major MSAs tracked by the S&P/Experian Consumer Credit Default Indices.

 

MSA

August 2019
 Index Level

July 2019
 Index Level

August 2018
 Index Level

New York

0.94

0.89

0.83

Chicago

1.05

0.95

0.91

Dallas

0.93

0.83

0.84

Los Angeles

0.77

0.74

0.65

Miami

1.28

1.34

1.57

Source: S&P/Experian Consumer Credit Default Indices

Data through August 2019

For more information about S&P Dow Jones Indices, please visit www.spdji.com.

ABOUT THE S&P/EXPERIAN CONSUMER CREDIT DEFAULT INDICES

Jointly developed by S&P Dow Jones Indices LLC and Experian, the S&P/Experian Consumer Credit Default Indices are published on the third Tuesday of each month at 9:00 am ET. They are constructed to track the default experience of consumer balances in four key loan categories: auto, bankcard, first mortgage lien and second mortgage lien. The Indices are calculated based on data extracted from Experian's consumer credit database. This database is populated with individual consumer loan and payment data submitted by lenders to Experian every month. Experian's base of data contributors includes leading banks and mortgage companies, and covers approximately $11 trillion in outstanding loans sourced from 11,500 lenders.

For more information, please visit: www.spindices.com/indices/indicators/sp-experian-consumer-credit-default-composite-index.

ABOUT S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing across the spectrum of asset classes helping to define the way investors measure and trade the markets.

S&P Dow Jones Indices is a division of S&P Global (SPGI), which provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit www.spdji.com.

ABOUT EXPERIAN

Experian is the world's leading global information services company. During life's big moments – from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers – we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organizations to prevent identity fraud and crime.

We have more than 16,000 people operating across 37 countries and every day we're investing in new technologies, talented people and innovation to help all our clients maximize every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.

Learn more at www.experianplc.com or visit our global content hub at our global news blog for the latest news and insights from the Group

FOR MORE INFORMATION:

Ray McConville
North America Communications
New York, USA
(+1) 212 438 1678
raymond.mcconville@spglobal.com

Jordan Takeyama
Experian Public Relations
(+1) 714 830 7561
jordan.takeyama@experian.com

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