Search the web
Welcome, Guest
[Sign Out, My Account]

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
AXP > SEC Filings for AXP > Form 8-K on 15-Nov-2012All Recent SEC Filings

Show all filings for AMERICAN EXPRESS CO



Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure

American Express Company (the "Company") is hereby furnishing below delinquency and write-off statistics for the lending portfolio of its U.S. Card Services ("USCS") operating segment for the months ended August 31, September 30 and October 31, 2012.

                            American Express Company
                               U.S. Card Services
                   Delinquency and Write-off Rate Statistics

  As of and for the months ended August 31, September 30 and October 31, 2012.

(Billions, except percentages)

                                                     August 31,       September 30,       October 31,
                                                        2012              2012               2012
Cardmember lending:
Total loans                                          $      53.0     $          52.9     $        53.3
30 days past due loans as a % of total                       1.2 %               1.3 %             1.3 %
Average loans                                        $      52.8     $          52.9     $        53.1
Net write-off rate - principal only (a)                      2.0 %               1.9 %             1.9 %

(a) Net write-off rate based on principal only (i.e., excluding interest and /or fees).

Note: The statistics presented above are based on the USCS operating segment's total portfolio of cardmember loans determined in accordance with U.S. generally accepted accounting principles, which includes all securitized and non-securitized cardmember loans.

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 "Commission"). The cardmember loans that have been securitized through the Lending Trust do not possess identical characteristics with those of the total portfolio of USCS loans, which reflects the aggregate of securitized and non-securitized loans. Thus, the reported credit performance of the Lending Trust may, on a month-to-month basis, be better or worse than the credit performance of the total portfolio. Reported differences may arise as a result of, among other things, differences in the mix and vintage of loans between the Lending Trust and the total portfolio (including, among other things, the larger proportion of small business loans in the non-securitized portion of the total portfolio), the number of days in the reporting period covered by the Form 10-D being filed by the Lending Trust, 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 total portfolio statistics, as well as other mechanics of the calculation for the lending trust net write-off rate, which is impacted by any additions to the securitization trust within a particular period. In addition, the reporting period for the total portfolio is based on a calendar month, as compared to the reporting period covered by the Form 10-D reports for the Lending Trust, which is generally based on a monthly period beginning on or around the 25th day of each calendar month.


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)

                                                                           August 26,       September 25,
                                                                              2012              2012
                                                      July 26, 2012          through           through
                                                         through          September 24,      October 25,
                                                     August 25, 2012          2012              2012
Ending total principal balance                       $           30.8     $        30.6     $        30.5
Defaulted amount, net of recoveries                  $            0.1     $         0.1     $         0.1
Annualized default rate, net of recoveries                        2.1 %             2.0 %             1.9 %
Total 30+ days delinquent                            $            0.4     $         0.4     $         0.4


  Add AXP to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for AXP - All Recent SEC Filings
Copyright © 2016 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.