Securitized Subprime Auto Loan Losses Are Relatively High
Date Prime Index Cumulative Net Loss - Annual Cumulative Net Loss - Annual Subprime
4/01 0.85% 4.59%
5/01 0.82% 4.79%
6/01 0.77% 4.67%
7/01 0.84% 5.01%
8/01 0.94% 6.06%
9/01 0.92% 6.29%
10/01 0.92% 5.99%
11/01 1.22% 7.38%
12/01 1.27% 7.18%
1/02 1.40% 7.53%
2/02 1.25% 7.76%
3/02 1.32% 7.72%
4/02 1.22% 7.83%
5/02 1.30% 6.697%
6/02 1.04% 6.490%
7/02 0.99% 6.723%
8/02 1.08% 7.848%
9/02 1.12% 7.800%
10/02 1.25% 8.482%
11/02 1.61% 8.541%
12/02 1.48% 8.136%
1/03 1.54% 8.082%
2/03 1.70% 9.073%
3/03 1.47% 8.316%
4/03 1.65% 9.780%
5/03 1.47% 8.078%
6/03 1.58% 8.094%
7/03 1.39% 7.968%
8/03 1.29% 8.336%
9/03 1.38% 8.443%
10/03 1.54% 9.554%
11/03 1.53% 9.486%
12/03 1.40% 9.957%
1/04 1.56% 9.064%
2/04 1.39% 8.891%
3/04 1.30% 8.629%
4/04 1.36% 6.18%
5/04 1.31% 6.57%
6/04 0.97% 6.05%
7/04 1.19% 6.77%
Source: Fitch Ratings Ltd.