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These excerpts taken from the C 10-Q filed Aug 3, 2007. Provisions for loan losses
and for benefits and claims increased primarily
reflecting a change in estimate of loan losses
inherent in the U.S. Cards portfolio, portfolio seasoning and delinquencies in
second mortgages, and higher loan volumes.
The increase in provision for loan losses also reflected the absence of
loan loss reserve releases recorded in the prior year. The net credit loss ratio increased 12 basis
points to 1.26%.
Provisions for loan losses
and for benefits and claims increased primarily
reflecting a change in estimate of loan losses
inherent in the U.S. Cards portfolio.
The increase in provision for loan losses also reflected the absence of
loan loss reserve releases recorded in the prior year, higher loan volumes,
portfolio seasoning and increased delinquencies in
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