New York
|
1-7657
|
13-4922250
|
||
(State or other jurisdiction of incorporation or organization)
|
(Commission File Number)
|
(IRS Employer Identification No.)
|
200 Vesey Street
|
||
New York, New York
|
10285
|
|
(Address of principal executive offices)
|
(Zip Code)
|
Not Applicable
|
(Former name or former address, if changed since last report)
|
☐
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
☐
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
☐
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
☐
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Item 7.01 | Regulation FD Disclosure |
February 29,
2016
|
March 31,
2016
|
April 30,
2016
|
||||||||||
USCS Card Member loans:
|
||||||||||||
Total loans held for investment
|
$
|
41.7
|
$
|
42.4
|
$
|
43.0
|
||||||
30 days past due loans as a % of total
|
1.0
|
%
|
1.0
|
%
|
0.9
|
%
|
||||||
Average loans held for investment
|
$
|
42.1
|
$
|
42.1
|
$
|
42.7
|
||||||
Net write-off rate – principal only (a)
|
1.4
|
%
|
1.5
|
%
|
1.5
|
%
|
||||||
U.S. Small Business Card Member loans:
|
||||||||||||
Total loans held for investment
|
$
|
8.0
|
$
|
8.3
|
$
|
8.4
|
||||||
30 days past due loans as a % of total
|
1.1
|
%
|
1.0
|
%
|
1.0
|
%
|
||||||
Average loans held for investment
|
$
|
8.0
|
$
|
8.1
|
$
|
8.4
|
||||||
Net write-off rate – principal only (a)
|
1.4
|
%
|
1.4
|
%
|
1.4
|
%
|
||||||
Total U.S. Consumer and Small Business Card Member loans held for investment
|
$
|
49.7
|
$
|
50.7
|
$
|
51.4
|
(a)
|
Net write-off rate based on principal only (i.e., excluding interest and /or fees).
|
February 1, 2016
through
February 29, 2016
|
March 1, 2016
through
March 31, 2016
|
April 1, 2016
through
April 30, 2016
|
||||||||||
Ending total principal balance
|
$
|
25.6
|
$
|
25.5
|
$
|
25.4
|
||||||
Defaulted amount
|
$
|
0.04
|
$
|
0.04
|
$
|
0.04
|
||||||
Annualized default rate, net of recoveries
|
1.4
|
%
|
1.2
|
%
|
1.3
|
%
|
||||||
Total 30+ days delinquent
|
$
|
0.2
|
$
|
0.2
|
$
|
0.2
|
99.1 | Historical information relating to Card Member loan, delinquency and write-off statistics for USCS, U.S. Small Business and the HFS Portfolios. |
AMERICAN EXPRESS COMPANY
(REGISTRANT)
|
||
By:
|
/s/ Carol V. Schwartz
|
|
Name: Carol V. Schwartz
|
||
Title: Secretary
|
||
Exhibit
|
Description
|
99.1
|
Historical information relating to Card Member loan, delinquency and write-off statistics for USCS, U.S. Small Business and the HFS Portfolios.
|
U.S. Card Member Loans
|
Exhibit 99.1
|
Ending U.S. Card Member loans:
|
Apr. 30,
2015
|
May 31,
2015
|
Jun. 30,
2015
|
Jul. 31,
2015
|
Aug. 31,
2015
|
Sept. 30,
2015
|
Oct. 31,
2015
|
Nov. 30,
2015
|
Dec. 31,
2015
|
Jan. 31,
2016
|
Feb. 29,
2016
|
Mar. 31,
2016
|
Apr. 30,
2016
|
|||||||||||||||||||||||||||||||||||||||
U.S. Consumer
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans held for investment
|
$
|
50,536
|
$
|
51,821
|
$
|
51,812
|
$
|
51,851
|
$
|
52,661
|
$
|
52,160
|
$
|
52,551
|
$
|
53,818
|
$
|
43,496
|
$
|
42,474
|
$
|
41,697
|
$
|
42,432
|
$
|
42,965
|
||||||||||||||||||||||||||
Loans held for investment related to Costco and JetBlue*
|
12,231
|
12,648
|
12,582
|
12,476
|
12,579
|
12,164
|
12,055
|
12,329
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||||||||||||||||||||
Total loans held for investment excluding loans related to Costco and JetBlue
|
$
|
38,305
|
$
|
39,173
|
$
|
39,230
|
$
|
39,375
|
$
|
40,082
|
$
|
39,996
|
$
|
40,496
|
$
|
41,489
|
$
|
43,496
|
$
|
42,474
|
$
|
41,697
|
$
|
42,432
|
$
|
42,965
|
||||||||||||||||||||||||||
Total loans held for investment, growth versus prior year
|
7
|
%
|
7
|
%
|
7
|
%
|
6
|
%
|
7
|
%
|
7
|
%
|
7
|
%
|
7
|
%
|
(18
|
)%
|
(17
|
)%
|
(15
|
)%
|
(16
|
)%
|
(15
|
)%
|
||||||||||||||||||||||||||
Total loans held for investment excluding loans related to Costco and JetBlue, growth versus prior year
|
7
|
%
|
7
|
%
|
7
|
%
|
7
|
%
|
8
|
%
|
8
|
%
|
9
|
%
|
9
|
%
|
10
|
%
|
11
|
%
|
12
|
%
|
12
|
%
|
12
|
%
|
||||||||||||||||||||||||||
Loans held for sale related to Costco and JetBlue*
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
12,755
|
$
|
11,789
|
$
|
10,901
|
$
|
9,745
|
$
|
9,603
|
|
Ending U.S. Card Member loans:
|
Apr. 30,
2015
|
May 31,
2015
|
Jun. 30,
2015
|
Jul. 31,
2015
|
Aug. 31,
2015
|
Sept. 30,
2015
|
Oct. 31,
2015
|
Nov. 30,
2015
|
Dec. 31,
2015
|
Jan. 31,
2016
|
Feb. 29,
2016
|
Mar. 31,
2016
|
Apr. 30,
2016
|
|||||||||||||||||||||||||||||||||||||||
U.S. Small Business
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans held for investment
|
$
|
9,765
|
$
|
10,014
|
$
|
9,919
|
$
|
9,917
|
$
|
9,970
|
$
|
9,973
|
$
|
10,195
|
$
|
10,126
|
$
|
7,951
|
$
|
8,042
|
$
|
7,970
|
$
|
8,268
|
$
|
8,438
|
||||||||||||||||||||||||||
Loans held for investment related to Costco and JetBlue*
|
2,366
|
2,446
|
2,413
|
2,387
|
2,377
|
2,292
|
2,288
|
2,295
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||||||||||||||||||||
Total loans held for investment excluding loans related to Costco and JetBlue
|
$
|
7,398
|
$
|
7,568
|
$
|
7,505
|
$
|
7,531
|
$
|
7,594
|
$
|
7,681
|
$
|
7,907
|
$
|
7,831
|
$
|
7,951
|
$
|
8,042
|
$
|
7,970
|
$
|
8,268
|
$
|
8,438
|
||||||||||||||||||||||||||
Total loans held for investment, growth versus prior year
|
8
|
%
|
9
|
%
|
9
|
%
|
9
|
%
|
8
|
%
|
9
|
%
|
10
|
%
|
8
|
%
|
(16
|
)%
|
(15
|
)%
|
(15
|
)%
|
(14
|
)%
|
(14
|
)%
|
||||||||||||||||||||||||||
Total loans held for investment excluding loans related to Costco and JetBlue, growth versus prior year
|
10
|
%
|
10
|
%
|
10
|
%
|
10
|
%
|
10
|
%
|
12
|
%
|
13
|
%
|
12
|
%
|
13
|
%
|
13
|
%
|
12
|
%
|
13
|
%
|
14
|
%
|
||||||||||||||||||||||||||
Loans held for sale related to Costco and JetBlue*
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
2,345
|
$
|
2,200
|
$
|
2,063
|
$
|
2,032
|
$
|
2,024
|
Ending U.S. Card Member loans:
|
Apr. 30,
2015
|
May 31,
2015
|
Jun. 30,
2015
|
Jul. 31,
2015
|
Aug. 31,
2015
|
Sept. 30,
2015
|
Oct. 31,
2015
|
Nov. 30,
2015
|
Dec. 31,
2015
|
Jan. 31,
2016
|
Feb. 29,
2016
|
Mar. 31,
2016
|
Apr. 30,
2016
|
|||||||||||||||||||||||||||||||||||||||
Total U.S. Consumer and Small Business
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans held for investment
|
$
|
60,301
|
$
|
61,835
|
$
|
61,731
|
$
|
61,768
|
$
|
62,631
|
$
|
62,133
|
$
|
62,746
|
$
|
63,944
|
$
|
51,446
|
$
|
50,516
|
$
|
49,666
|
$
|
50,699
|
$
|
51,403
|
||||||||||||||||||||||||||
Loans held for investment related to Costco and JetBlue*
|
14,597
|
15,095
|
14,996
|
14,863
|
14,955
|
14,456
|
14,343
|
14,624
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||||||||||||||||||||
Total loans held for investment excluding loans related to Costco and JetBlue
|
$
|
45,703
|
$
|
46,740
|
$
|
46,735
|
$
|
46,905
|
$
|
47,676
|
$
|
47,677
|
$
|
48,404
|
$
|
49,320
|
$
|
51,446
|
$
|
50,516
|
$
|
49,666
|
$
|
50,699
|
$
|
51,403
|
||||||||||||||||||||||||||
Total loans held for investment, growth versus prior year
|
7
|
%
|
7
|
%
|
7
|
%
|
7
|
%
|
7
|
%
|
7
|
%
|
8
|
%
|
7
|
%
|
(18
|
)%
|
(16
|
)%
|
(15
|
)%
|
(15
|
)%
|
(15
|
)%
|
||||||||||||||||||||||||||
Total loans held for investment excluding loans related to Costco and JetBlue, growth versus prior year
|
7
|
%
|
8
|
%
|
8
|
%
|
8
|
%
|
8
|
%
|
9
|
%
|
10
|
%
|
10
|
%
|
10
|
%
|
11
|
%
|
12
|
%
|
12
|
%
|
12
|
%
|
||||||||||||||||||||||||||
Loans held for sale related to Costco and JetBlue*
|
$ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - |
$
|
15,100
|
$
|
13,988
|
$
|
12,964
|
$
|
11,777
|
$
|
11,627
|
Delinquency and Write-off Rate Statistics:**
|
Apr. 30,
2015
|
May 31,
2015
|
Jun. 30,
2015
|
Jul. 31,
2015
|
Aug. 31,
2015
|
Sept. 30,
2015
|
Oct. 31,
2015
|
Nov. 30,
2015
|
Dec. 31,
2015
|
Jan. 31,
2016
|
Feb. 29,
2016
|
Mar. 31,
2016
|
Apr. 30,
2016
|
|||||||||||||||||||||||||||||||||||||||
U.S. Consumer
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
30 days past due loans as a % of total loans
|
0.9
|
%
|
0.9
|
%
|
0.9
|
%
|
0.9
|
%
|
0.9
|
%
|
1.0
|
%
|
1.0
|
%
|
1.0
|
%
|
1.0
|
%
|
1.0
|
%
|
1.0
|
%
|
1.0
|
%
|
0.9
|
%
|
||||||||||||||||||||||||||
Net write-off rate - principal only
|
1.5
|
%
|
1.3
|
%
|
1.3
|
%
|
1.3
|
%
|
1.3
|
%
|
1.2
|
%
|
1.4
|
%
|
1.5
|
%
|
1.4
|
%
|
1.4
|
%
|
1.4
|
%
|
1.5
|
%
|
1.5
|
%
|
||||||||||||||||||||||||||
U.S. Small Business
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
30 days past due loans as a % of total loans
|
1.0
|
%
|
0.9
|
%
|
0.9
|
%
|
0.9
|
%
|
0.9
|
%
|
1.0
|
%
|
1.0
|
%
|
1.0
|
%
|
1.1
|
%
|
1.0
|
%
|
1.1
|
%
|
1.0
|
%
|
1.0
|
%
|
||||||||||||||||||||||||||
Net write-off rate - principal only
|
1.3
|
%
|
1.3
|
%
|
1.2
|
%
|
1.4
|
%
|
1.4
|
%
|
1.1
|
%
|
1.3
|
%
|
1.2
|
%
|
1.2
|
%
|
1.4
|
%
|
1.4
|
%
|
1.4
|
%
|
1.4
|
%
|