National Credit Default Rates Decreased in March 2013 According to the S&P/Experian Consumer Credit Default Indices

National Credit Default Rates Decreased in March 2013 According to the S&P/Experian Consumer Credit Default Indices
Four of the Five Cities Saw Default Rates Descend in March 2013

New York, April 16, 2013 – Data through March 2013, released today by S&P Dow Jones Indices and Experian for the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, showed a decrease in national default rates during the month. The national composite was 1.50% in March, down from 1.55% in February. The first and second mortgage default rates moved to 1.41% and 0.69% in March, down from 1.48% and 0.71% in February. The bank card default rate was 3.51% in March, up from the recent low of 3.37% it posted last month. The auto loan default rate remained flat at 1.11% since February.

“The first quarter of 2013 shows healthy consumer credit quality,” says David M. Blitzer, Managing Director and Chairman of the Index Committee for S&P Dow Jones Indices. “The first and second mortgage default rates decreased, the bank card rate increased and the auto loan rate remained flat in March. All loan types remain below their respective levels a year ago.”

“Four of the five cities we cover showed decreases in their default rates in March – Miami was down by 28 basis points, Chicago by 25, Los Angeles by 15 and Dallas by six basis points. New York was the only city with increased default rates; it was up 38 basis points. Miami had the highest default rate at 2.93% and Dallas - the lowest at 1.20% among the five cities. All five cities remain below default rates they posted a year ago, in March 2012.”

The table below summarizes the March 2013 results for the S&P/Experian Credit Default Indices. These data are not seasonally adjusted and are not subject to revision.

The table below provides the S&P/Experian Consumer Default Composite Indices for the five MSAs:


 
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About Experian
Experian is the leading global information services company, providing data and analytical tools to clients in more than 80 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score and protect against identity theft.

Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2011 was $4.2 billion. Experian employs approximately 15,000 people in 41 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.

For more information, visit http://www.experianplc.com.

Experian and the Experian marks used herein are service marks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein are the property of their respective owners.

For more information:
Dave Guarino
Communications
S&P Dow Jones Indices
dave_guarino@spdji.com
(+1) 212-438-1471

David Blitzer
Managing Director and Chairman of the Index Committee
S&P Dow Jones Indices
david_blitzer@spdji.com
(+1) 212-438-3907

Susan Henson
Experian Public Relations
Susan.henson@experian.com
(+1) 714-830-5129

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.consumercreditindices.standardandpoors.com.

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