US DATA: Oct Equipment Leasing and Finance Assoc Monthly Index
showed $6.0b new business, up 22% YOY but -16% MOM. Year-to-date
cumulative new business volume is up 25%. Credit quality metrics were
improved. Receivables over 30 days were the lowest in over two years,
decreasing 2.2 percent in October from 2.3 percent in September.
Charge-offs also declined, from 0.9 percent in September to 0.7 percent
in October. Credit standards tightened in October as the number of lease
applications approved decreased nominally to 76.3 percent from 76.5
percent the previous month.
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