Credit cards
Credit cards
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The AAA ratings also stem from a 5.5% base-case loss rate, a 22.5% base-case payment rate, a 15.0% base-case yield, and a 3.0% purchase rate assumption.
January 23 -
The A1 and A2 notes have a revolving period during which investors will receive fixed-rate and floating-rate payments, respectively.
December 13 -
The collateral pool had an average account balance of $1,620, lower than that of credit card securitization trusts that the Big Six banks sponsor, and the ABS notes benefit a 26% subordination level.
November 20 -
As U.S. credit card balances continue to march above $1 trillion, the number of newly delinquent credit card users now exceeds the pre-pandemic average and millennials and those with student or auto loans are driving the increase in past-due payments, the New York Fed said.
November 7 -
On average the receivables have a balance of $971, a WA average percentage rate of 32.88%, and a WA age of 24 months. Also, cardholders might pay an annual membership of up to $75.
September 28 -
Consumer ABS adapts to an environment where total U.S. household debt reaches a record high of $17.06 trillion, while observers say credit performances could reach pre-pandemic levels by 2024.
August 18 -
Total credit enhancement on the notes amounts to 13.50% and 7.00% on the senior and subordinate classes of notes, respectively.
August 16 -
Synchrony has a lower credit quality than most other bank sponsors of credit card securitization trusts in the U.S., but the average account balance is lower, too.
August 3 -
In the April 2023 collection period, 60 days-plus net chargeoffs and delinquencies of rose to 2.91% and 1.26%, respectively.
July 26 -
Rising interest rates on loans, greater borrowing and higher fees on deposit accounts all contributed to the increase. "Altogether, this paints a picture of debt that could really start to strain the checkbooks of American families," said Meghan Greene, a researcher at the nonprofit organization that authored the report.
June 25