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Mix-Ansicht- Fitch: Chargeoffs, Delinquencies Rise Amid Signs Of Economic Recovery - Cosa, 26.03.2002, 11:11
Fitch: Chargeoffs, Delinquencies Rise Amid Signs Of Economic Recovery
Zwar schon ein paar Tage alt, die Meldung ist aber trotzdem interessant.
<font size="4">Fitch: Chargeoffs, Delinquencies Rise Amid Signs Of Economic Recovery</font>
21 Mar 2002 2:43 PM
Fitch Ratings-New York-March 21, 2002: Signs of economic recovery are being tempered by rising chargeoffs and serious delinquencies, according to Fitch Ratings in their latest edition of 'Credit Card Movers & Shakers'. Additionally, the latest credit card numbers validate the long held belief that not only do subprime borrowers default at a higher absolute level, they also deteriorate much more rapidly in stressful environments, even in the relatively brief and shallow one experienced to date.
Fitch's chargeoff index rose to 5.88% from last month's 5.83%, while the greater than 60 day delinquencies index rose to 3.56% from 3.41%, its highest level in four years. Fitch's prime credit card chargeoff index rose approximately 17% over the past 18 months, while subprime credit chargeoffs increased 38% over the same period. Serious delinquencies in the subprime sector exhibited a similar meltdown, rising nearly 50% over the same period, compared to a 23% increase in prime sector late-stage delinquencies.
'Along with the annual tax season-fueled increases in bankruptcy filings, recent delinquency trends will push 'normalized' chargeoffs even higher in the coming months,' said Rui Pereira, Director, Fitch. 'Late stage delinquencies, along with chargeoffs, will continue to show additional volatility while issuers reconcile their treatment of September 2001 collections.'
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