Click here to close now.


News Feed Item

National Credit Default Rates Decreased in January 2014 According to the S&P/Experian Consumer Credit Default Indices

Two Cities Saw Default Rates Decrease in January 2014

NEW YORK, Feb. 18, 2014 /PRNewswire/ -- Data through January 2014, 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 decline in national default rates during the month. The national composite posted 1.34% in January, a marginal decline from 1.35% in December. The first mortgage default rate was 1.26% in January, slightly down from 1.27% last month. The second mortgage posted 0.72% in January, down from 0.76% in December. The auto loan default rate was 1.11% in January, down from 1.12% in the previous month. The bank card rate rose to 2.99%, slightly higher than its historical low of 2.97% set in October 2013.

"The severe weather conditions afflicting the country impacted economic activity," says David M. Blitzer, Managing Director and Chairman of the Index Committee for S&P Dow Jones Indices.  Retail sales were down and the labor market conditions were mixed in January data. Overall economic activity  is still subpar. Against this background, consumer default rates have stabilized at levels similar to those seen before the financial crisis.

"All the month to month changes were small. Two out of the five cities saw default rate decreases. Chicago's rate increased the most; it posted 1.75%, 13 basis points higher than last month's level. New York also saw its default rate increase; it posted 1.49%, 11 basis points higher than December's level. Los Angeles posted 1.07%, the same as last month and its lowest default rate since July 2006. Miami maintained the highest default rate and Los Angeles had the lowest.  All cities – Chicago, Dallas, Los Angeles, Miami and New York remain below default rates posted a year ago, in January 2013."

The table below summarizes the January 2014 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


January 2014
Index Level

December 2013
Index Level

January 2013
Index Level





First Mortgage 




Second Mortgage 




Bank Cards 




Auto Loans 




Source: S&P/Experian Consumer Credit Default Indices
Data through January 2014

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

Statistical Area

January 2014
Index Level

December 2013
Index Level

January 2013
Index Level

New York












Los Angeles








Source: S&P/Experian Consumer Credit Default Indices
Data through January 2014

About S&P Dow Jones Indices
S&P Dow Jones Indices LLC, a part of McGraw Hill Financial, is the world's largest, global resource for index-based concepts, data and research. Home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average™, S&P Dow Jones Indices LLC has over 115 years of experience constructing innovative and transparent solutions that fulfill the needs of investors. More assets are invested in products based upon our indices than any other provider in the world. With over 830,000 indices covering a wide range of asset classes across the globe, S&P Dow Jones Indices LLC defines the way investors measure and trade the markets. To learn more about our company, please visit  

Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC, a part of McGraw Hill Financial. Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones").  These trademarks have been licensed to S&P Dow Jones Indices LLC. It is not possible to invest directly in an index. S&P Dow Jones Indices LLC, Dow Jones, S&P and their respective affiliates (collectively "S&P Dow Jones Indices") do not sponsor, endorse, sell, or promote any investment fund or other investment vehicle that is offered by third parties and that seeks to provide an investment return based on the performance of any index. This document does not constitute an offer of services in jurisdictions where S&P Dow Jones Indices does not have the necessary licenses. S&P Dow Jones Indices receives compensation in connection with licensing its indices to third parties.

About Experian
Experian is the leading global information services company, providing data and analytical tools to clients around the world. The Group 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 2013 was US$4.7 billion. Experian employs approximately 17,000 people in 40 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

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:  

All information provided by S&P Dow Jones Indices is impersonal and not tailored to the needs of any person, entity or group of persons.  S&P Dow Jones Indices and its third party licensors do not sponsor, endorse, sell, promote or manage any investment fund or other vehicle that is offered by third parties and that seeks to provide an investment return based on the returns of any S&P Dow Jones Indices' index. S&P Dow Jones Indices LLC is not an investment advisor, and S&P Dow Jones Indices and its third party licensors make no representation regarding the advisability of investing in any such investment fund or other vehicle.  A decision to invest in any such investment fund or other vehicle should not be made in reliance on any of the statements set forth in this press release. Prospective investors are advised to make an investment in any such fund or other vehicle only after carefully considering the risks associated with investing in such funds, as detailed in an offering memorandum or similar document that is prepared by or on behalf of the issuer of the investment fund or other vehicle. Inclusion of a security within an index is not a recommendation by S&P Dow Jones Indices or its third party licensors to buy, sell, or hold such security, nor is it considered to be investment advice. Exposure to an asset class is available through investable instruments based on an index. It is not possible to invest directly in an index. There is no assurance that investment products based on the index will accurately track index performance or provide positive investment returns.

S&P Dow Jones Indices and its third party licensors do not guarantee the accuracy, adequacy, timeliness and/or completeness of any S&P Dow Jones Indices' index, any data included therein, or any data from which it is based, or any communication with respect thereto, including, but not limited to, oral or written communications (including electronic communications) with respect thereto.  S&P DOW JONES INDICES AND ITS THIRD PARTY LICENSORS MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE MARKS, THE INDEX OR ANY DATA INCLUDED THEREIN.  S&P DOW JONES INDICES AND ITS THIRD PARTY LICENSORS SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS OR DELAYS IN THE INDEX OR ANY DATA INCLUDED THEREIN AND THE DISSEMINATION THEREOF.  S&P Dow Jones Indices and its third party licensors make no warranties, express or implied, as to results to be obtained from use of information provided by S&P Dow Jones Indices and its third party licensors and used in this service, and S&P Dow Jones Indices and its third party licensors expressly disclaim all warranties of suitability with respect thereto. 

Without limiting the foregoing, the Indices are calculated by S&P Dow Jones Indices and its third party licensors based on a sampling of data reported to S&P Dow Jones Indices or its third party licensor from third parties, and neither S&P Dow Jones Indices nor its third party licensors verify the adequacy, accuracy, timeliness or completeness of such data.  Neither S&P Dow Jones Indices nor its third party licensor guarantee that such data and/or the sampling thereof shall be representative of the rate of actual consumer credit default or of any other attribute or activity. 

Neither S&P Dow Jones Indices nor its third party licensors shall be liable for any claims or losses of any nature in connection with information contained in this document, including but not limited to, lost profits or punitive or consequential damages, even if it is advised of the possibility of same. These materials have been prepared solely for informational purposes. S&P Dow Jones Indices and its third party licensors make no representation with respect to the accuracy or completeness of these materials, the content of which September change without notice. The methodology involves rebalancing and maintenance of the indices that are made periodically during each year and September not, therefore, reflect real-time information. S&P Dow Jones Indices and its third party licensors shall not have any obligation to update any published index in light of any change to the data used to calculate such index or to provide anyone with notice of such change. 

Analytic services and products provided by S&P Dow Jones Indices are the result of separate activities designed to preserve the independence and objectivity of each analytic process.  S&P Dow Jones Indices has established policies and procedures to maintain the confidentiality of non-public information received during each analytic process.  S&P Dow Jones Indices and its affiliates provide a wide range of services to, or relating to, many organizations, including issuers of securities, investment advisers, broker-dealers, investment banks, other financial institutions and financial intermediaries, and accordingly September receive fees or other economic benefits from those organizations, including organizations whose securities or services they September recommend, rate, include in model portfolios, evaluate or otherwise address.


Copyright © 2012 by S&P Dow Jones Indices LLC. All rights reserved.

Redistribution, reproduction and/or photocopying in whole or in part is prohibited without written permission.

© 2012 Experian Information Solutions, Inc. • All rights reserved

SOURCE S&P Dow Jones Indices

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Most of the IoT Gateway scenarios involve collecting data from machines/processing and pushing data upstream to cloud for further analytics. The gateway hardware varies from Raspberry Pi to Industrial PCs. The document states the process of allowing deploying polyglot data pipelining software with the clear notion of supporting immutability. In his session at @ThingsExpo, Shashank Jain, a development architect for SAP Labs, discussed the objective, which is to automate the IoT deployment proces...
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ab...
In his General Session at DevOps Summit, Asaf Yigal, Co-Founder & VP of Product at, explored the value of Kibana 4 for log analysis and provided a hands-on tutorial on how to set up Kibana 4 and get the most out of Apache log files. He examined three use cases: IT operations, business intelligence, and security and compliance. Asaf Yigal is co-founder and VP of Product at log analytics software company In the past, he was co-founder of social-trading platform Currensee, which...
The revocation of Safe Harbor has radically affected data sovereignty strategy in the cloud. In his session at 17th Cloud Expo, Jeff Miller, Product Management at Cavirin Systems, discussed how to assess these changes across your own cloud strategy, and how you can mitigate risks previously covered under the agreement.
Countless business models have spawned from the IaaS industry – resell Web hosting, blogs, public cloud, and on and on. With the overwhelming amount of tools available to us, it's sometimes easy to overlook that many of them are just new skins of resources we've had for a long time. In his general session at 17th Cloud Expo, Harold Hannon, Sr. Software Architect at SoftLayer, an IBM Company, broke down what we have to work with, discussed the benefits and pitfalls and how we can best use them ...
We all know that data growth is exploding and storage budgets are shrinking. Instead of showing you charts on about how much data there is, in his General Session at 17th Cloud Expo, Scott Cleland, Senior Director of Product Marketing at HGST, showed how to capture all of your data in one place. After you have your data under control, you can then analyze it in one place, saving time and resources.
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, rich desktop and tuned mobile experiences can now be created with a single codebase – without compromising functionality, performance or usability. In his session at DevOps Su...
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningf...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
In recent years, at least 40% of companies using cloud applications have experienced data loss. One of the best prevention against cloud data loss is backing up your cloud data. In his General Session at 17th Cloud Expo, Sam McIntyre, Partner Enablement Specialist at eFolder, presented how organizations can use eFolder Cloudfinder to automate backups of cloud application data. He also demonstrated how easy it is to search and restore cloud application data using Cloudfinder.
The Internet of Everything is re-shaping technology trends–moving away from “request/response” architecture to an “always-on” Streaming Web where data is in constant motion and secure, reliable communication is an absolute necessity. As more and more THINGS go online, the challenges that developers will need to address will only increase exponentially. In his session at @ThingsExpo, Todd Greene, Founder & CEO of PubNub, exploreed the current state of IoT connectivity and review key trends and t...