NEW YORK - Moody's Investors Service said delinquencies and chargeoffs in securitized pools of bank credit card receivables stayed steady but near historical highs in April.
The chargeoff rate of 5.93% was within the range of 5.35% and 6.24% between March 1991 and March 1992. Delinquencies were 5.69%, compared with the 13-month range of 5.43% to 6.31%.
The average chargeoff rate of 5.76% during the 12 months ended with April 1992 was 38% higher than the average rate during calendar year 1990, said Moody's economist Andrew Silver.
The indicators are based on data for 56 of the more than 90 credit card-backed securities rated by Moody's.