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

PR Newswire

NEW YORK, April 16, 2013

NEW YORK, April 16, 2013 /PRNewswire/ --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.

S&P/Experian Consumer Credit Default Indices
National Indices
                           March 2013            February 2013  March 2012
Index                     Index Level           Index Level    Index
                                                                Level
Composite                  1.50                  1.55           1.96
First Mortgage             1.41                  1.48           1.88
Second Mortgage            0.69                  0.71           1.03
Bank Card                  3.51                  3.37           4.47
Auto Loans                 1.11                  1.11           1.11
 Source: S&P/Experian Consumer
Credit Default Indices
 Data through March
2013

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

Metropolitan               March 2013           February 2013  March 2012
Statistical Area            Index Level          Index Level    Index
                                                                Level
New York                    1.79                 1.41           2.01
Chicago                     1.83                 2.08           2.35
Dallas                      1.20                 1.26           1.44
Los Angeles                 1.48                 1.63           1.88
Miami                       2.93                 3.21           3.62
 Source: S&P/Experian Consumer
Credit Default Indices
 Data through March
2013

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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

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Consumer Credit Default Indices are published on the third Tuesday of each
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consumer balances in four key loan categories: auto, bankcard, first mortgage
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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.

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