DISCOVER FINANCIAL SERVICES (Exact name of registrant as specified in its charter)

Transcription

1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washingtn, D.C Frm 8-K Current Reprt Pursuant t Sectin 13 r 15(d) f the Securities Exchange Act f 1934 Date f Reprt (Date f earliest event reprted): March 14, 2019 DISCOVER FINANCIAL SERVICES (Exact name f registrant as specified in its charter) Cmmissin File Number: Delaware (State r ther jurisdictin f incrpratin) 2500 Lake Ck Rad, Riverwds, Illinis (Address f principal executive ffices, including zip cde) (224) (Registrant's telephne number, including area cde) N/A (Frmer name r frmer address, if changed since last reprt) (IRS Emplyer Identificatin N.) Check the apprpriate bx belw if the Frm 8-K filing is intended t simultaneusly satisfy the filing bligatin f the registrant under any f the fllwing prvisins: Written cmmunicatins pursuant t Rule 425 under the Securities Act (17 CFR ) Sliciting material pursuant t Rule 14a-12 under the Exchange Act (17 CFR a-12) Pre-cmmencement cmmunicatins pursuant t Rule 14d-2(b) under the Exchange Act (17 CFR d-2(b)) Pre-cmmencement cmmunicatins pursuant t Rule 13e-4(c) under the Exchange Act (17 CFR e-4(c)) Indicate by check mark whether the registrant is an emerging grwth cmpany as defined in Rule 405 f the Securities Act f 1933 ( f this chapter) r Rule 12b-2 f the Securities Exchange Act f 1934 ( b-2 f this chapter). Emerging grwth cmpany If an emerging grwth cmpany, indicate by check mark if the registrant has elected nt t use the extended transitin perid fr cmplying with any new r revised financial accunting standards prvided pursuant t Sectin 13(a) f the Exchange Act

2 Item 7.01 Regulatin FD Disclsure. Discver Financial Services (the "Cmpany") hereby furnishes the infrmatin in Exhibit 99.1 heret, Mnthly Credit Card Charge-ff and Delinquency Statistics as f and fr each f the twenty-fur mnths ended February 28, Beginning next mnth, this disclsure will nt be furnished fr the last mnth f each quarter. The Cmpany's Credit Card Charge-ff and Delinquency Statistics fr each quarter will be available with its annuncement f financial results. The infrmatin cntained in this Item 7.01 f this Current Reprt n Frm 8-K, including Exhibit 99.1, is furnished pursuant t Item 7.01 f Frm 8-K and shall nt be deemed t be filed r purpses f Sectin 18 f the Securities Exchange Act f 1934, as amended, r therwise subject t the liabilities f that sectin, nr shall it be deemed incrprated by reference in any filing under the Securities Act f 1933, as amended, r the Securities Exchange Act f 1934, as amended, except as shall be expressly stated by specific reference in such filing. Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit N. Descriptin 99.1 Mnthly Credit Card Charge-ff and Delinquency Statistics as f and fr each f the twenty-fur mnths ended February 28, 2019.

3 SIGNATURES Pursuant t the requirements f the Securities Exchange Act f 1934, the Registrant has duly caused this reprt t be signed n its behalf by the undersigned hereunt duly authrized. DISCOVER FINANCIAL SERVICES Dated: March 14, 2019 By: /s/ D. Christpher Greene Name: D. Christpher Greene Title: Vice President, Acting General Cunsel and Secretary

4 Exhibit Index Exhibit Number Descriptin 99.1 Mnthly Credit Card Charge-ff and Delinquency Statistics as f and fr each f the twenty-fur mnths ended February 28, 2019.

5 Exhibit 99.1 Discver Financial Services Mnthly Credit Card Charge-ff and Delinquency Statistics As f and fr each f the twenty-fur mnths ended (dllars in billins) Feb 28, 2019 Jan 31, 2019 Dec 31, Nv 30, Oct 31, Sep 30, Aug 31, Jul 31, Jun 30, May 31, Apr 30, Ending Lans $ 71.0 $ 72.0 $ 72.9 $ 71.4 $ 69.9 $ 69.3 $ 69.2 $ 68.6 $ 67.8 $ 67.4 $ 66.4 $ 65.6 Average Lans $ 71.4 $ 72.1 $ 72.2 $ 70.2 $ 69.3 $ 69.2 $ 68.7 $ 68.0 $ 67.4 $ 66.5 $ 65.9 $ 65.3 Mar 31, Net Principal Charge-ff Rate (1) 3.81% 3.30% 3.41% 3.24% 3.03% 3.17% 3.14% 3.13% 3.40% 3.40% 3.22% 3.33% Delinquency Rate (30 r mre days) (2) 2.49% 2.49% 2.43% 2.43% 2.40% 2.32% 2.23% 2.19% 2.16% 2.17% 2.26% 2.33% Feb 28, Jan 31, Dec 31, Nv 30, Oct 31, Sep 30, Aug 31, Jul 31, Jun 30, May 31, Apr 30, Ending Lans $ 65.7 $ 66.6 $ 67.3 $ 65.7 $ 64.0 $ 63.5 $ 63.3 $ 62.5 $ 61.8 $ 61.4 $ 60.5 $ 59.8 Average Lans $ 66.0 $ 66.7 $ 66.5 $ 64.3 $ 63.5 $ 63.3 $ 62.7 $ 62.0 $ 61.4 $ 60.6 $ 60.1 $ 59.5 Mar 31, Net Principal Charge-ff Rate (1) 3.57% 3.09% 3.06% 3.08% 2.96% 2.80% 2.78% 2.81% 2.86% 2.95% 3.01% 2.81% Delinquency Rate (30 r mre days) (2) 2.38% 2.37% 2.28% 2.26% 2.23% 2.14% 2.08% 2.05% 2.00% 1.98% 2.00% 2.06% (1) Represents net principal charge-ff dllars (annualized) divided by average lans fr the reprting perid (2) Represents lans delinquent 30 r mre days divided by ending lans The statistics presented abve prvide infrmatin regarding Discver Financial Services' ttal credit card prtfli. The data presented differs frm the data reprted by the Discver Card Master Trust I and, thrugh the cllateral certificate, the Discver Card Executin Nte Trust (cllectively, the Trusts ), Discver Funding LLC and Discver Bank in their mnthly Frm 10-D reprts filed with the Securities and Exchange Cmmissin which reflects nly credit card lans that have been securitized thrugh the Trusts. The credit card lans that have been securitized thrugh the Trusts d nt pssess identical characteristics with thse f the ttal prtfli f Discver credit card lans, which reflects the aggregate f securitized and nn-securitized credit card lans. Thus, the reprted credit perfrmance f the Trusts may, n a mnth-t-mnth basis, be better r wrse than the credit perfrmance f the ttal credit card prtfli. Reprted differences may arise as a result f, amng ther things, differences in the mix and vintage f lans between the Trusts and the ttal prtfli, the use f beginning f mnth principal receivables balances t calculate charge-ff statistics in the Trusts cmpared t the use f average lan balances ver the reprting perid used in the ttal prtfli statistics, and the calculatin f the Trusts' net charge-ff rate annualized n a 30/360 day cunt basis, as cmpared t an actual/actual day cunt basis fr the ttal prtfli.