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Major bank credit card portfolio sales transactions (dollar amounts in millions)
part 1 of 4
Buyer
Banc One Corp., Columbus, Ohio
Fleet Financial Group, Boston
Citicorp, New York
Chase Manhattan Corp., New York
Providian Financial Corp., San Francisco
Norwest Corp., Minneapolis
Providian Financial Corp., San Francisco
Citicorp, New York
BankAmerica Corp., San Francisco
Fleet Financial Group, Boston
part 2 of 4
Date Assets
Seller announcesold/purch.
Chevy Chase Bank, Frederick, Md. 9/3/98 $4,900
Crestar Financial Corp., Richmond 7/9/98 600
Diners Club Intl., Switzerland 7/8/98 N/A
Marine Midland Bank, Buffalo 4/29/98 325
First Union Corp., Charlotte, NC 4/1/98 1,100
T. Eaton Co., Limited, Toronto, C 2/16/98 370
First Union Corp., Charlotte, NC 12/29/97 1,100
AT&T Corp., New York 12/17/97 15,000
First Maryland Bancorp., Baltimor12/11/97 612
Advanta Corp., Horsham, Pa. 10/28/97 10,500
part 3 of 4
Buyer
Chase Manhattan Corp., New York
Undisclosed Acquirer
Metris Companies Inc., Minneapolis
Metris Companies Inc., Minneapolis
Partners First Holdings LLC, Baltimore
Chase Manhattan Corp., New York
Associates First Capital Corp., Dallas
Associates First Capital Corp., Dallas
Associates First Capital Corp., Dallas
Banc One Corp., Columbus, Ohio
part 4 of 4
Date Assets
Seller announced sold/purch.
Bank of New York Co. Inc. 10/21/97 $4,000
NationsBank Corp., Charlotte, NC 9/30/97 305
Mercantile Bancorp., Inc., St. Loui 9/24/97 420
KeyCorp, Cleveland 9/12/97 330
BankBoston/Bank of Montreal (Harris 9/4/97 2,250
First Maryland Bancorp., Baltimore 8/21/97 355
Bank of New York Co. Inc. 3/5/97 800
Texaco Credit Card Bank NA, Omaha 1/15/97 700
JC Penney Company Inc., Plano, Tx. 1/7/97 740
First USA, Inc., Wilmington, Del. 1/20/97 10,226
Data sources: American Banker Research survey, Sheshunoff Information Services, Austin, Tx. (Bank chartered institution components on the balance sheet books of the company culled from the FDIC regulatory call reports), Bloomberg (Managed Loan component for companies who did not reply to the American Banker survey), FDIC (Overall Bank & Thrift core loan portfolio nonperforming and net charge-off industry average ratios), Federal Reserve Board's Bulletin (Total Credit Card market data). Managed Credit Card Receivables comprise loans on the books plus securitized assets outstanding backed by credit card revolving loans receivable. Total Credit Card Market includes all revolving credit issued by commercial banks, finance companies, credit unions, retailers, savings institutions, gasoline companies, and pools of securitized credit card receivables. Top 50's share of the Total Credit Card Market is the top 50 as a percentage of all revolving credit outstanding. Noncurrent as a % of Total Credit Card Loans on the books is noncurrent credit card loans (90 days or greater past due) expressed as a percentage of card loans on the books. Net Chargeoff as a % of Total Credit Card Loans reflects chargeoffs of credit card loans less recoveries as a % of loans on the books at the end of the quarter, expressed as an annual percentage. Noncurrent and charge-offs ratios are noted for both the top 50 and for all FDIC - insured banks. Total Card Industry Securitizations reflect outstanding balances of pools upon which securities have been issued, and are backed by credit card loans receivable, for which these balances are no longer carried on the balance sheet of the credit card issuer with or without recourse. Historical Reference: 1986-Sept. 8: 1987-Sept. 18; 1988-Sept. 26; 1989- Sept. 18; 1990-Sept. 17; 1991-Sept. 10:; 1992-Sept. 14: 1993-Sept. 20; 1994-Sept. 12; 1995 - Sept. 11; 1996-Oct 1; 1997-Sept. 23. American Banker, 1998 ===
