NEW YORK, Jan. 19, 2021 /PRNewswire/ -- S&P Dow Jones
Indices and Experian released today data through December 2020 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 was unchanged at 0.46%. The bank card default rate
rose seven basis points to 2.63%. The auto loan default rate was
unchanged at 0.64% and the first mortgage default rate was one
basis point higher at 0.29%.
Two of the five major metropolitan statistical areas ("MSAs")
showed lower default rates compared to last month. Los Angeles and Chicago each decreased two basis points, to
0.35% and 0.52% respectively. Dallas and Miami were both unchanged, at 0.56% and 0.86%
respectively. New York was the
only MSA to show an increase, up one basis point to 0.42%.
The table below summarizes the December
2020 results for the S&P/Experian Consumer Credit
Default Indices. These data are not seasonally adjusted and are not
subject to revision.
National
Indices
|
|
|
|
|
Index
|
December 2020
Index Level
|
November 2020
Index Level
|
December 2019
Index Level
|
Composite
|
0.46
|
0.46
|
0.96
|
First
Mortgage
|
0.29
|
0.28
|
0.80
|
Bank Card
|
2.63
|
2.56
|
2.95
|
Auto Loans
|
0.64
|
0.64
|
1.02
|
Source:
S&P/Experian Consumer Credit Default Indices
|
Data through December
2020
|
The table below provides the index levels for the five major
MSAs tracked by the S&P/Experian Consumer Credit Default
Indices.
MSA
|
December 2020
Index Level
|
November 2020
Index Level
|
December 2019
Index Level
|
New York
|
0.42
|
0.41
|
1.09
|
Chicago
|
0.52
|
0.54
|
1.09
|
Dallas
|
0.56
|
0.56
|
0.98
|
Los
Angeles
|
0.35
|
0.37
|
0.80
|
Miami
|
0.86
|
0.86
|
1.70
|
Source:
S&P/Experian Consumer Credit Default Indices
|
Data through December
2020
|
For more information about S&P Dow Jones Indices, please
visit www.spdji.com.
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.spdji.com.
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