American Express Company
American Express Company
15/11/2024 | Press release | Distributed by Public on 15/11/2024 17:01
Regulation FD Disclosure Form 8 K
| Item 7.01 | Regulation FD Disclosure |
American Express Company (the "Company") is hereby furnishing below delinquency and write-off statistics for its U.S. Consumer and U.S. Small Business Card Member lending portfolios for the months ended October 31, September 30 and August 31, 2024.
American Express Company
U.S. Consumer and U.S. Small Business
Delinquency and Write-off Rate Statistics
As of and for the months ended October 31, September 30 and August 31, 2024
(Billions, except percentages)
|
October 31, 2024 |
September 30, 2024 |
August 31, 2024 |
||||
| U.S. Consumer Card Member loans: | ||||||
|
Total loans
|
$ | 88.0 | $ | 86.8 | $ | 87.3 |
|
30 days past due loans as a % of total
|
1.4 | % | 1.4 | % | 1.3 | % |
|
Average loans
|
$ | 87.4 | $ | 87.0 | $ | 86.6 |
|
Net write-off rate - principal only (a)
|
2.4 | % | 1.9 | % | 2.2 | % |
| U.S. Small Business Card Member loans: | ||||||
|
Total loans
|
$ | 30.5 | $ | 29.9 | $ | 30.1 |
|
30 days past due loans as a % of total
|
1.5 | % | 1.5 | % | 1.4 | % |
|
Average loans
|
$ | 30.2 | $ | 30.0 | $ | 29.6 |
|
Net write-off rate - principal only (a)
|
2.2 | % | 2.1 | % | 2.3 | % |
|
Total Card Member loans - U.S. Consumer and U.S. Small Business
|
$ | 118.5 | $ | 116.7 | $ | 117.4 |
| (a) | Net write-off rate based on principal only (i.e., excluding interest and/or fees). |
The statistics presented above provide information that is additional to the data reported by the American Express Credit Account Master Trust (the "Lending Trust") in its monthly Form 10-D report filed with the Securities and Exchange Commission. The Card Member loans that have been securitized through the Lending Trust do not possess identical characteristics with those of the total U.S. Consumer or U.S. Small Business Card Member loan portfolios, which include securitized and non-securitized Card Member loans. The reported credit performance of the Lending Trust may, on a month-to-month basis, be better or worse as a result of, among other things, differences in the mix, vintage and aging of loans, the use of end-of-period principal loan balances to calculate write-off statistics in the Lending Trust compared to the use of average loan balances over the reporting period used in the statistics of the U.S. Consumer and U.S. Small Business Card Member loan portfolios, as well as other mechanics of the calculation for the Lending Trust net write-off rate, which is impacted by any additions to the Lending Trust within a particular period. In addition, statistics for the U.S. Consumer and U.S. Small Business Card Member loan portfolios and the Lending Trust for any particular monthly period may be subject to variability due to a number of factors, including the number of days in a month, timing of holidays and weekends, seasonality and the timing of information received from third parties.
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Set forth below is certain information regarding the credit performance of the Lending Trust for its three most recent monthly reporting periods, as reported in its Form 10-D report filed with respect to each such period.
American Express Credit Account Master Trust
(Billions, except percentages)
|
October 1, 2024
through
October 31, 2024
|
September 1, 2024 through September 30, 2024 |
August 1, 2024 through August 31, 2024 |
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| Ending total principal balance | $ | 25.7 | $ | 25.5 | $ | 25.7 |
| Defaulted amount | $ | 0.05 | $ | 0.04 | $ | 0.04 |
| Annualized default rate, net of recoveries | 1.5 | % | 1.3 | % | 1.4 | % |
| Total 30+ days delinquent | $ | 0.2 | $ | 0.2 | $ | 0.2 |
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