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

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

Three Cities Saw Default Rates Increase in August 2013

PR Newswire

NEW YORK, Sept. 17, 2013

NEW YORK, Sept. 17, 2013 /PRNewswire/ -- Data through August 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 decrease in national default rates during the month. The
national composite was 1.34% in August, marginally down from 1.35% in July.
The first mortgage default rate was 1.23% this month, down from 1.25% posted
last month. The second mortgage posted 0.57% in August, up from 0.54% July
rate. The auto loan default rate reported 1.11% in August, up from a 1.03%
previous month's level. The bank card rate hit a new low of 3.12% in August;
it was 3.22% in July.

"Consumer credit quality continues to look healthy," says David M. Blitzer,
Managing Director and Chairman of the Index Committee for S&P Dow Jones
Indices. "The indices are back to pre-financial crisis levels and are stable.
The national composite and the first mortgage posted recent lows in August;
they were 1.34% and 1.23%, marginally down from the last month's rates. The
second mortgage posted 0.57%, three basis points up from July low. Auto loan
default rate was 1.11%, eight basis points up from the last month. Bank card
default rate hit a new low of 3.12%, ten basis points down from July level and
65 basis points down from the level posted in August 2012. All loan types
remain below their respective levels a year ago.

"Two cities, New York and Los Angeles, saw their default rates drop in August
while three cities – Chicago, Dallas and Miami – saw increases. All moves were
small. All five cities remain below default rates they posted a year ago, in
August 2012."

The table below summarizes the August 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
Index                      August 2013           July 2013   August 2012
                            Index Level           Index Level Index Level
Composite                  1.34                  1.35        1.50
First Mortgage             1.23                  1.25        1.40
Second Mortgage            0.57                  0.54        0.72
Bank Card                  3.12                  3.22        3.77
Auto Loans                 1.11                  1.03        1.09
 Source: S&P/Experian Consumer Credit Default
Indices
 Data through August
2013

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

Metropolitan            August 2013          July 2013   August 2012
Statistical Area             Index Level          Index Level Index Level
New York                     1.21                 1.52        1.49
Chicago                      1.83                 1.75        1.92
Dallas                       1.13                 0.97        1.07
Los Angeles                  1.44                 1.56        1.60
Miami                        2.19                 2.06        2.62
 Source: S&P/Experian Consumer Credit Default
Indices
 Data through August
2013

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About Experian
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and analytical tools to clients around the world. The Group helps businesses
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For more information, visit http://www.experianplc.com.

For more information:

Soogyung Cho
Communications
S&P Dow Jones Indices
soogyung.cho@spdji.com
(+1) 212-438-2297

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

Jordan Takeyama
Experian Public Relations
jordan.takeyama@experian.com
(+1) 714-830-7561

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.

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