default

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default,

n 1. an omission of that which should be done.
v 2. to fail to fulfill an obligation or a promise.
References in periodicals archive ?
For example, since the database only covers defaults that occurred since 1980, bonds issued in 1978 that defaulted in 1979 would not appear, resulting in a lower than actual cumulative default rate for that year.
At the same time, Fred Kent had also defaulted on Sawyer's first mortgage, thus prompting that bank to commence an action to foreclose.
The DRs are designed to estimate recoveries on a forward-looking basis for distressed and defaulted securities,' said Marion Silverman, Managing Director Fitch Ratings.
Defaulted issues in the first half were trading at an average of 86% of par at the beginning of the year.
Rising home prices over the past few years have led to subdued default rates and loan losses because only those loans that recorded a loss are treated as having defaulted.
For example, Fitch has been tracking the cumulative default rates of the pool of bonds sold from 1997 - 1999 and has found that at the extreme, 48% and 47% of high yield bonds sold in 1999 and 1998, respectively, had defaulted by 2004 with the bulk of the defaults (nearly 90%) occurring by 2002.
NEW YORK -- According to Fitch Ratings' newly issued 2005 Conduit Loan Default Study, an additional 336 CMBS loans defaulted in 2004, bringing the total dollar amount of CMBS loan defaults to $10.