Card issuer competition seen lowering yield of receivables. (chargeoff and delinquency rates drop)(credit card industry) (Brief Article)

NEW YORK -- The credit quality of securitized pools of credit-care receivables continued to improve in October 1993, but competition among card issuers pushed the aggregate yield downward, according to Moody's Investors Service.

Moody's index of credit-card performance, based on its rated pools of securitized assets, showed a decline in the chargeoff rate to 4.73% of outstanding balances in October, from 5.23% a year earlier.

The delinquency rate -- account …