Business, Legal & Accounting Glossary
An account, also known as an “Allowance for Bad Debt”, that is maintained by banks in order to account for the percentage of outstanding loans that will not be paid back. Overestimation or underestimation of the amount that will be needed for this account can affect the economic health of a bank.
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This glossary post was last updated: 20th November, 2021 | 0 Views.