NEW YORK, Oct. 15, 2019 /PRNewswire/ -- S&P Dow Jones
Indices and Experian released today data through September 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 one basis point to 0.93%. The bank card default
rate fell 41 basis points to 3.32%. The auto loan default rate was
up seven basis points to 1.05%, and the first mortgage default rate
increased four basis points to 0.73%.
Three of the five major metropolitan statistical areas ("MSAs")
showed higher default rates compared to last month. Chicago showed the largest increase, up 14
basis points to 1.19%. The default rates for New York and Miami each rose two basis points, to 0.96% and
1.30% respectively. The rate for Dallas was unchanged at 0.93%. Los Angeles was the only MSA with a decrease
in default rates, down five basis points to 0.72%.
The table below summarizes the September
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
|
September 2019
Index Level
|
August 2019
Index Level
|
September 2018
Index Level
|
Composite
|
0.93
|
0.92
|
0.82
|
First
Mortgage
|
0.73
|
0.69
|
0.63
|
Bank Card
|
3.32
|
3.73
|
3.14
|
Auto Loans
|
1.05
|
0.98
|
0.89
|
Source:
S&P/Experian Consumer Credit Default Indices
|
Data through
September 2019
|
The table below provides the index levels for the five major
MSAs tracked by the S&P/Experian Consumer Credit Default
Indices.
MSA
|
September 2019
Index Level
|
August 2019
Index Level
|
September 2018
Index Level
|
New York
|
0.96
|
0.94
|
0.79
|
Chicago
|
1.19
|
1.05
|
0.85
|
Dallas
|
0.93
|
0.93
|
0.73
|
Los
Angeles
|
0.72
|
0.77
|
0.56
|
Miami
|
1.30
|
1.28
|
1.56
|
Source:
S&P/Experian Consumer Credit Default Indices
|
Data through
September 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 (NYSE:
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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SOURCE S&P Dow Jones Indices