NEW YORK, Jan. 18, 2022 /PRNewswire/ -- S&P Dow Jones
Indices and Experian released today data through December 2021 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 three basis points to 0.40%. The bank card
default rate increased one basis point to 1.95%. The auto loan
default rate was up five basis points to 0.49% while the first
mortgage default rate was two basis points higher at 0.28%.
Three of the five major metropolitan statistical areas ("MSAs")
showed higher default rates compared to last month. Miami had the largest increase, up 24 basis
points to 0.97%. New York was
three basis points higher at 0.33% and Los Angeles was up two basis points to 0.36%.
Dallas was unchanged at 0.49%
while Chicago fell one basis point
to 0.44%.
The table below summarizes the December
2021 results for the S&P/Experian Consumer Credit
Default Indices. These data are not seasonally adjusted and are not
subject to revision.
Index Levels –
National Indices
|
|
|
|
|
Index
|
December
2021
|
November
2021
|
December
2020
|
Composite
|
0.40
|
0.37
|
0.46
|
First
Mortgage
|
0.28
|
0.26
|
0.29
|
Bank Card
|
1.95
|
1.94
|
2.63
|
Auto Loans
|
0.49
|
0.44
|
0.64
|
Source:
S&P/Experian Consumer Credit Default Indices
|
Data through December
2021
|
The table below provides the index levels for the five major
MSAs tracked by the S&P/Experian Consumer Credit Default
Indices.
Index Levels –
Major MSAs
|
|
|
|
|
MSA
|
December
2021
|
November
2021
|
December
2020
|
New York
|
0.33
|
0.30
|
0.42
|
Chicago
|
0.44
|
0.45
|
0.52
|
Dallas
|
0.49
|
0.49
|
0.56
|
Los
Angeles
|
0.36
|
0.34
|
0.35
|
Miami
|
0.97
|
0.73
|
0.86
|
Source:
S&P/Experian Consumer Credit Default Indices
|
Data through December
2021
|
For more information about S&P Dow Jones Indices, please
visit www.spglobal.com/spdji/en/.
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.spglobal.com/spdji/en/.
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 17,800 people operating across 45 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
Annie Russell
Experian Public Relations
(+1) 714 830 7927
annie.russell@experian.com
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SOURCE S&P Dow Jones Indices