Business, Legal & Accounting Glossary
The rate at which debt holders default on the amount of money that they owe. It is often used by credit card companies when setting interest rates, but also refers to the rate at which corporations default on their loans. Default rates tend to rise during economic downturns, since investors and businesses see a decline in income and sales while still required to pay off the same amount of debt.
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This glossary post was last updated: 20th November, 2021 | 0 Views.