easy · Asset-Backed Securities
An investor is analyzing a 'Major Bank' credit card master trust series. The series has a 3-month rolling average portfolio yield of 18.5%, a charge-off rate of 5.5%, and a base rate (coupons + servicing) of 7.0%.
What is the series' current excess spread?
- -1.5%
- 11.5%
- 6.0%
- 13.0%
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