AMERICAN EXPRESS COMPANY (NYSE:AXP) Files An 8-K Regulation FD Disclosure
Item 7.01
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Regulation FD Disclosure
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delinquency and write-off statistics for the Card Member lending
portfolio of its U.S. Consumer Services (USCS) operating segment
and the U.S. Small Business Card Member lending portfolio of its
Global Commercial Services operating segment for the months ended
February 28, March 31 and April 30, 2017.
30, 2017
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February 28,
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March 31,
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April 30,
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||||||||||
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USCS Card Member loans:
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||||||||||||
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Total loans
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$
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46.2
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$
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46.7
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$
|
47.5
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||||||
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30 days past due loans as a % of total
|
1.2
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%
|
1.2
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%
|
1.1
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%
|
||||||
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Average loans
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$
|
46.7
|
$
|
46.5
|
$
|
47.1
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||||||
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Net write-off rate principal only (a)
|
1.8
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%
|
1.8
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%
|
1.8
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%
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||||||
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U.S. Small Business Card Member loans:
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||||||||||||
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Total loans
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$
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9.5
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$
|
9.9
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$
|
10.1
|
||||||
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30 days past due loans as a % of total
|
1.3
|
%
|
1.2
|
%
|
1.2
|
%
|
||||||
|
Average loans
|
$
|
9.5
|
$
|
9.7
|
$
|
10.0
|
||||||
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Net write-off rate principal only (a)
|
1.5
|
%
|
1.8
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%
|
1.5
|
%
|
||||||
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Total U.S. Consumer and Small Business Card Member loans
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$
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55.7
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$
|
56.6
|
$
|
57.5
|
|
(a)
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Net write-off rate based on principal only (i.e.,
excluding interest and /or fees). |
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 USCS or U.S. Small Business Card Member loan
portfolios, which include all 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 USCS
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.
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.
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February 1, 2017
through
February 28, 2017
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March 1, 2017
through
March 31, 2017
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April 1, 2017
through
April 30, 2017
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||||||||||
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Ending total principal balance
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$
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23.7
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$
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23.7
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$
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23.9
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||||||
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Defaulted amount
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$
|
0.04
|
$
|
0.04
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$
|
0.04
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||||||
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Annualized default rate, net of recoveries
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1.5
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%
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1.4
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%
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1.5
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%
|
||||||
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Total 30 days delinquent
|
$
|
0.2
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$
|
0.2
|
$
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0.2
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About AMERICAN EXPRESS COMPANY (NYSE:AXP)
American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS). The USCS segment includes the U.S. Consumer Card Services business and travel services in the United States. The ICNS segment includes the International Consumer Card Services business, Global Network Services (GNS) business and travel services outside the United States. The GCS segment includes the Global Corporate Payments (GCP) business, small business services businesses in the United States and internationally, merchant financing products and foreign exchange services operations. The GMS segment includes the Global Merchant Services business and global loyalty coalition businesses. AMERICAN EXPRESS COMPANY (NYSE:AXP) Recent Trading Information
AMERICAN EXPRESS COMPANY (NYSE:AXP) closed its last trading session up +0.99 at 78.48 with 2,865,797 shares trading hands.
