Delinquency as well as charge-off rates for credit card asset-backed trusts are still increasing on a year-over-year and month-over-month basis, according to a report released today from Merrill Lynch/Bank of America.

According to the firm, almost all trusts saw a drop in terms of monthly payment rates. In general, portfolio yield dipped on a year-over-year basis, although it went up in terms of month-over-month. The amount of change was different in the trusts.

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