Default ([payment] default)

In general, a cessation, however caused, of a person’s or an object’s ability to perform a required task or service. – In the financial market, the failure to complete a funds or securities transfer according to its terms for reasons that are not technical or temporary. Unless otherwise defined, a bank is deemed to be in default whenever – a material liability of the debtor to a group member institution is more than ninety days in arrears or – it can be assumed that the debtor will not meet its credit obligations to the group member institution in full. – Also often said in older documents for any type of loss. – See charge-off, default loss, default, delinquent, flash crash, fraudulent, Herfindahl-Hirschman Index, calibration, credit event, loan shark, credit risk, customer, bad, hole, black, pandemic, parity reservation, rating, risk transparency, risk profile, delinquency rate, debt, distressed, current risk, subprime lending, IT risk, underlay, loss, default, delinquency.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
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