Fixed Income Quarterly—Asset-Backed Securities Page 7
Table 10: Performance Data - Canadian Credit Card ABS
31-Jan-13 28-Feb-13
31-Mar-13
30-Apr-13 31-May-13 30-Jun-13
31-Jul-13 31-Aug-13 30-Sep-13
31-Oct-13 30-Nov-13 31-Dec-13
31-Jan-14 3-month Average Previous 3-months
LTM 2013
2012
Change
3-months Avg
PAYMENT RATE
m/m
0.42% 0.60%
m/m
y/y
Broadway Cards II CCCT Eagle Glacier Gloucester Golden MCCT
19.90% 17.18% 40.33% 33.99% 38.52% 32.70% 52.77% 44.75% 24.62% 20.38% 21.74% 18.06% 45.01% 39.43% 41.38% 35.10%
18.16% 36.48% 35.42% 48.07% 21.87% 18.69% 42.08% 38.22%
19.74% 20.47% 18.66% 40.68% 41.24% 37.17% 41.69% 42.89% 36.89% 54.22% 53.94% 47.91% 23.83% 24.40% 22.38% 21.09% 21.00% 18.44% 47.81% 48.25% 43.73% 42.69% 44.31% 39.10%
21.64% 19.39% 19.50% 43.74% 39.29% 38.71% 44.99% 38.54% 39.62% 57.64% 51.12% 50.80% 26.04% 23.12% 23.09% 21.96% 19.94% 19.82% 50.45% 45.58% 45.67% 45.13% 42.32% 40.79%
21.07% 18.94% 20.08% 42.19% 34.50% 38.51% 40.86% 37.17% 43.46% 54.31% 49.05% 58.28% 24.72% 21.87% 24.17% 21.04% 19.48% 20.61% 47.26% 44.85% 49.91% 44.23% 41.04% 44.03%
20.50% 19.84% 19.99% 36.00% 36.34% 40.06% 40.58% 40.40% 39.67% 50.96% 52.76% 52.08% 23.62% 23.22% 23.64% 20.33% 20.14% 20.27% 46.35% 47.04% 46.17% 42.41% 42.49% 42.45%
19.61% 19.56% 38.54% 38.90% 39.57% 39.40% 51.75% 51.91% 23.29% 23.37% 20.04% 20.16% 45.95% 45.84% 41.61% 41.53%
18.32% 39.17% 36.91% 51.83% 24.83% 20.37% 44.25% 39.81%
(2.51%) (2.88%) (7.32%) (0.55%) (0.28%) (3.56%) (1.62%)
(4.33%)
(0.15%) (3.73%) 0.73% 0.69% (0.42%) (0.13%) 0.87% 0.05%
2.06%
(1.81%) (1.00%) (1.41%) 1.34% 1.03%
PORTFOLIO YIELD
Broadway Cards II CCCT Eagle Glacier Gloucester Golden MCCT
19.54% 21.66% 21.78% 24.14% 22.20% 24.69% 23.75% 26.57% 21.70% 20.84% 22.84% 17.96% 20.16% 19.36% 22.69% 23.32%
17.91% 21.78% 21.59% 23.31% 19.63% 19.36% 20.66% 22.92%
20.45% 19.67% 20.91% 23.10% 22.45% 23.26% 23.94% 23.63% 23.39% 26.56% 25.08% 24.94% 21.15% 21.01% 20.77% 17.20% 19.83% 17.15% 22.61% 22.60% 19.87% 23.65% 23.22% 22.57%
20.00% 19.98% 20.71% 22.11% 22.86% 22.93% 23.90% 23.18% 23.73% 25.33% 25.05% 25.34% 20.94% 21.03% 21.04% 20.92% 19.14% 15.91% 23.04% 21.31% 21.48% 23.24% 22.94% 23.25%
19.62% 20.77% 19.58% 22.47% 22.60% 21.93% 22.56% 23.77% 22.35% 24.47% 25.57% 25.51% 20.70% 21.07% 20.83% 13.66% 18.69% 19.25% 21.98% 21.43% 22.73% 23.92% 22.66% 23.68%
20.00% 20.12% 20.10% 21.50% 22.01% 22.75% 22.81% 22.98% 23.16% 24.25% 25.11% 24.95% 20.64% 20.85% 20.92% 16.14% 18.03% 16.24% 21.03% 21.73% 21.59% 23.39% 23.24% 23.37%
20.11% 20.07% 22.59% 22.62% 23.30% 23.24% 25.17% 25.12% 20.80% 20.89% 17.93% 18.49% 21.51% 21.44% 23.23% 23.17%
18.74% 22.35% 22.81% 24.59% 21.16% 18.65% 20.83% 22.31%
0.42% 0.46% 0.01%
(0.43%)
(0.28%)
(0.74%) (0.18%) 0.16% (0.08%) 1.79% 0.14% (0.13%)
0.46%
0.61% 0.50% (1.06%) (6.70%) 0.87% 0.70%
(1.26%) (0.19%) (3.11%) (1.70%) (0.29%)
NET CHARGE OFFS
Broadway Cards II CCCT Eagle Glacier Gloucester Golden MCCT
5.85% 6.28% 3.53% 4.00% 3.98% 5.47% 3.66% 3.96% 5.47% 5.59% 4.62% 4.57% 2.22% 2.41% 3.84% 4.17%
6.06% 3.73% 4.12% 3.87% 6.19% 4.46% 2.35% 3.51%
5.58% 6.54% 5.95% 3.65% 3.66% 3.88% 4.10% 4.09% 4.04% 3.69% 4.21% 3.39% 5.88% 5.92% 5.45% 3.79% 4.90% 4.61% 2.55% 2.42% 2.29% 3.55% 3.43% 3.42%
5.18% 5.97% 4.93% 3.30% 3.39% 3.21% 3.90% 4.03% 3.72% 3.59% 3.67% 3.49% 5.47% 5.53% 5.64% 3.79% 4.25% 3.44% 2.07% 2.09% 2.20% 3.24% 3.45% 3.09%
5.09% 4.94% 5.15% 3.09% 3.77% 3.41% 3.99% 4.41% 4.12% 3.54% 3.70% 3.31% 5.51% 5.84% 5.86% 2.45% 3.75% 3.94% 1.96% 2.19% 1.86% 3.06% 2.83% 2.82%
4.48% 4.86% 5.33% 4.26% 3.81% 3.23% 3.37% 3.97% 3.91% 3.12% 3.38% 3.57% 5.51% 5.74% 5.56% 3.28% 3.66% 3.38% 2.00% 2.02% 2.08% 2.89% 2.85% 3.20%
5.51% 5.63% 3.61% 3.55% 4.11% 4.16% 3.63% 3.67% 5.70% 5.70% 3.94% 4.05% 2.20% 2.22% 3.29% 3.37%
6.67% 4.13% 4.17% 4.09% 6.55% 5.17% 2.52% 3.81%
(0.67%)
(1.37%)
(0.47%)
0.85%
0.73%
0.58% 0.05% (0.19%) 0.18% 0.28% (0.07%) (0.35%)
(0.75%) (0.19%) (0.35%) (0.66%) 0.14% 0.07%
(0.61%) (0.54%) 0.04% (1.34%) (0.22%) (0.95%)
EXCESS SPREAD
Broadway Cards II CCCT Eagle Glacier Gloucester Golden MCCT
5.91% 6.18%
14.24% 13.90%
13.57% 13.35%
14.55% 14.44%
14.85% 12.05%
12.60% 7.74% 9.53%
5.78% 4.28% 7.32% 13.37% 14.52% 14.73% 14.68% 15.54% 16.17% 15.60% 15.93% 15.83% 11.58% 11.48% 12.16% 11.83% 10.59% 8.34% 17.77% 17.99% 15.42% 17.07% 17.16% 16.51%
7.01% 6.98% 6.51% 14.78% 14.95% 14.96% 16.46% 16.40% 16.49% 15.69% 15.42% 15.97% 12.17% 12.28% 12.30% 12.95% 12.24% 10.29% 19.24% 18.15% 16.53% 17.45% 16.94% 17.60%
5.25% 4.44% 2.13% 15.06% 14.51% 14.26% 16.02% 16.01% 15.74% 15.57% 15.42% 16.31% 12.18% 12.14% 12.06% 11.90% 10.51% 12.39% 17.26% 16.48% 18.11% 18.31% 17.22% 18.25%
1.65% 2.74% 6.25% 13.93% 14.23% 14.99% 15.78% 15.84% 16.31% 15.98% 15.90% 15.65% 11.99% 12.07% 12.25% 11.90% 11.60% 11.48% 16.28% 16.96% 17.32% 17.90% 17.79% 17.61%
(0.48%) (0.33%) 0.04% (0.33%) (0.07%) (0.49%) (1.83%) (0.36%)
(4.26%) (0.31%) 2.20% 1.43% (2.86%) (0.70%) 1.34% 2.08%
(3.51%) (0.76%) (0.47%) 0.25% (0.19%) 0.12% (0.36%) 0.18%
5.74% 13.69% 13.96% 14.28% 11.48%
5.27% 5.63% 14.39% 14.41% 15.55% 15.36% 15.54% 15.42% 11.99% 12.23% 10.85% 10.91% 16.79% 16.67% 17.24% 17.07%
4.66% 13.60% 13.64% 14.43% 10.47% 7.82% 15.12% 14.91%
14.94% 13.61% 15.81% 16.11%
14.59% 16.37%
DELINQUENCY
Broadway Cards II CCCT Eagle Glacier Gloucester Golden MCCT
1.88% 2.92% 2.30% 2.37% 1.88% 1.84% 1.78% 1.81% 3.01% 3.09% 3.14% 3.21% 2.38% 2.40% 3.46% 3.57%
2.88% 2.34% 1.93% 1.80% 2.98% 3.14% 2.33% 3.57%
2.67% 2.48% 2.44% 2.06% 1.89% 1.94% 1.66% 1.40% 1.41% 1.68% 1.56% 1.59% 2.81% 2.61% 2.67% 2.92% 2.71% 2.62% 2.04% 1.77% 1.84% 3.22% 2.79% 2.92%
2.49% 2.34% 2.31% 1.93% 1.90% 1.90% 1.38% 1.33% 1.63% 1.60% 1.62% 1.65% 2.61% 2.77% 2.80% 2.60% 2.67% 2.78% 1.79% 1.91% 1.94% 2.91% 2.95% 3.14%
2.42% 2.41% 2.39% 1.97% 2.11% 2.20% 1.61% 1.59% 1.97% 1.68% 1.65% 1.63% 2.82% 2.85% 2.81% 2.73% 2.66% 2.79% 1.94% 2.00% 2.13% 3.06% 2.96% 3.11%
2.43% 2.41% 2.36% 2.23% 2.18% 1.92% 1.87% 1.81% 1.52% 1.81% 1.70% 1.65% 3.01% 2.89% 2.80% 2.71% 2.72% 2.73% 2.29% 2.14% 1.93% 3.23% 3.10% 3.05%
2.52% 2.47% 2.07% 2.08% 1.64% 1.64% 1.67% 1.67% 2.82% 2.82% 2.80% 2.83% 2.03% 2.04% 3.12% 3.14%
2.82% 2.29% 1.80% 1.80% 3.37% 3.46% 2.08% 3.08%
0.04% 0.55%
0.05% 0.26% 0.29% 0.05% 0.09% (0.01%) 0.21% 0.05%
0.03%
(0.07%) (0.01%) 0.03% 0.00% (0.43%) (0.09%) (0.23%)
(0.10%)
0.18% 0.20% (0.08%) 0.16% 0.12%
POOL BALANCE
Broadway Cards II CCCT Eagle Glacier Gloucester Golden MCCT
$1,124 $1,101 $12,994 $12,982
$1,074 $12,865
$1,060 $1,043 $1,031 $13,033 $13,152 $13,259
$1,012 $1,001 $13,063 $13,168
$990 $967 $961 $963 $934 $952 $986 $1,011 $1,027 $1,274
(2.97%) (3.21%) (5.03%) (6.22%) (3.25%) (2.04%) (5.13%) (3.87%)
(16.92%) (3.44%)
$13,352 $13,052 $1,581 $1,591 $1,584 $1,591 $1,609 $1,630 $1,609 $1,634 $1,619 $1,606 $1,807 $1,805 $1,793 $1,815 $1,844 $1,875 $1,841 $1,876 $1,889 $1,813 $3,920 $3,899 $3,898 $3,898 $3,955 $3,971 $3,950 $3,964 $3,960 $3,894 $1,797 $1,784 $1,798 $1,775 $1,778 $1,801 $1,771 $1,772 $1,752 $1,748 $8,300 $8,223 $8,129 $8,225 $8,296 $8,322 $8,255 $8,314 $8,336 $8,240 $6,912 $6,865 $6,757 $6,897 $7,090 $7,154 $7,031 $7,221 $7,190 $7,073
$9,939 $1,657 $1,855 $3,936 $1,756 $8,279 $7,291
$10,041 $9,719 $1,667 $1,583 $2,103 $1,972 $4,009 $3,879 $1,762 $1,726 $8,428 $7,996 $7,369 $7,083
$9,900
$1,636
$1,977
$3,941
$1,748
$8,234 $8,297 $8,254 $8,279 $7,400 $7,248 $7,161 $7,085 $7,071 $7,159
(25.21%)
(24.95%)
$13,191 $12,302 $12,575 $13,428
$1,620 $1,615
$1,860 $1,873
$3,939 $3,934
$1,757 $1,769 $1,775 $1,973
0.17%
9.18%
(1.06%)
(3.95%) (0.53%) (3.66%) (0.75%) 2.47% 1.21%
$1,615 $1,575 $1,860 $1,873 $3,938 $3,926
1.02% 6.30% 0.04%
Source: Issuer reports, DBRS