The one-time spike in charge-offs, which was recently seen in the credit card trusts of both Providian Financial Corp. and MBNA, should be the last such incidents caused by a change in accounting rules effective Dec. 31, 1999, according to Vernon Wright, vice chairman and chief corporate finance officer at MNBA.

Last year, issuers with credit card portfolios, including First Union, Bank One, and Capital One, all experienced similar events, Wright said.

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