default on payments
21default — 1) Failure to do something that is required by law, especially failure to comply with the rules of legal procedure. 2) Failure to comply with the terms of a contract. A seller defaults by failing to supply the right quality goods at the time… …
22Default risk — Also referred to as credit risk (as gauged by commercial rating companies), the risk that an issuer of a bond may be unable to make timely principal and interest payments. The New York Times Financial Glossary …
23Credit Default Swap - CDS — A swap designed to transfer the credit exposure of fixed income products between parties. A credit default swap is also referred to as a credit derivative contract, where the purchaser of the swap makes payments up until the maturity date of a… …
24Credit default swap — If the reference bond performs without default, the protection buyer pays quarterly payments to the seller until maturity …
25Sovereign default — A sovereign default is the failure or refusal of the government of a sovereign state to pay back its debt in full. It may be accompanied by a formal declaration of a government not to pay (repudiation) or only partially pay its debts (due… …
26UK default charges controversy — The UK default charges controversy is an on going issue in consumer law, relating to the level of fees charged by banks and credit card companies for late or dishonoured payments, exceeding credit limits, etc.Legal backgroundA personal account… …
27Technical Default — A deficiency in a loan agreement that arises not from a failure to make payments as promised, but from a failure to uphold some other aspect of the loan terms. Technical default indicates that the borrower may be in financial trouble, and can… …
28Constant maturity credit default swap — A constant maturity credit default swap (CMCDS) is a type of credit derivative product, similar to a standard Credit Default Swap (CDS). Addressing CMCDS typically requires prior understanding of credit default swaps. In a CMCDS the protection… …
29Universal default — is the term for a practice in the financial services industry for a particular lender to change the terms of a loan from the normal terms to the default terms (i.e. the terms and rates given to those who have missed payments on a loan) when that… …
30Notice Of Default — A public notice filed with a court stating that a mortgage borrower is behind in payments. This is one of the first steps toward foreclosure, and if the borrower does not pay, the next step is for the lender to file a notice of sale for the… …
