Credit card holders continued to step up their repayment rates in the first quarter of 1999, but this trend is not having a negative impact on the flow of new securitizations of credit card receivables, according to bank analysts.

Healthy household incomes, low unemployment and a strong economy have combined to enable cardholders to repay a record-high proportion of their credit balances in the first quarter, said Latonia Dukes, vice president in the structured finance group at Moody's Investors Service.

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