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4-Traders Homepage  >  Equities  >  Nyse  >  American Express Company    AXP

AMERICAN EXPRESS COMPANY (AXP)
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AMERICAN EXPRESS CO : Regulation FD Disclosure (form 8-K)

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05/15/2018 | 06:04pm CEST

Item 7.01 Regulation FD Disclosure




American Express Company (the "Company") is hereby furnishing below 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, 2018.

                            American Express CompanyU.S. Consumer Services and U.S. Small Business
                   Delinquency and Write-off Rate Statistics

    As of and for the months ended February 28, March 31 and April 30, 2018

(Billions, except percentages)

                                                April 30,        March 31,        February 28,
                                                   2018             2018              2018
USCS Card Member loans:
Total loans                                    $       53.1$       52.7     $         52.1
30 days past due loans as a % of total                  1.3 %            1.4 %              1.4 %
Average loans                                  $       52.9$       52.4     $         52.7
Net write-off rate - principal only (a)                 2.3 %            2.2 %              2.2 %

U.S. Small Business Card Member loans:
Total loans                                    $       11.3$       11.3     $         10.9
30 days past due loans as a % of total                  1.2 %            1.3 %              1.4 %
Average loans                                  $       11.3$       11.1     $         10.9
Net write-off rate - principal only (a)                 1.9 %            1.8 %              1.7 %

Total Card Member loans - U.S. Consumer and
Small Business                                 $       64.5$       63.9     $         63.0


(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 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.


                                      -2-

--------------------------------------------------------------------------------


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)

                                                April 1, 2018        March 1, 2018        February 1, 2018
                                                   through              through                through
                                                April 30, 2018       March 31, 2018       February 28, 2018
Ending total principal balance                 $           23.2     $           23.3     $              23.2
Defaulted amount                               $           0.05     $           0.05     $              0.04
Annualized default rate, net of recoveries                  1.7 %                1.6 %                   1.8 %
Total 30+ days delinquent                      $            0.2     $            0.2     $               0.3





                                      -3-

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses

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