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Specifically, first-quarter defaults were double from a year ago, while second-quarter defaults were quintuple last year's second-quarter instances of default, although last year's rate in the second quarter was very low at $661 million.
Cov-lite has become something of a lightning rod as loan market detractors - with an eye on what already is an inordinately long credit cycle - say these deals will see lower-than-usual recoveries in instances of default, in part due to the lack of 'early' warnings that full covenants might provide investors.
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Social scientists have documented many instances of the "default bias": when confronted by a choice in which one option is viewed as the default, people stick to that option.
"I believe that during the past 18 months, there were very few instances of serial default and contagion that could have not been contained by adequate risk-based capital and liquidity.
A seller of land that had been sold at one hundred pounds, for instance, deliverd to the buyer a bond promising two hundred pounds in case of default.
As specific policy interventions, we employed two instances of nudges : defaults and social information; and two instances of push measures: rebates and a minimum donation rule.
An instance of the default view factory.
America's only known instance of outright default (other than refusing to repay debts in gold in 1933) occurred in 1979 when the Treasury failed to redeem $122m of Treasury bills on time.
In past instances of commercial paper defaults, the relatively small size of the bailouts has allowed the fund sponsors to absorb the losses rather than reduce the share price.
In South Korea, for instance, a surge of defaults in 2003 set off a national crisis.
Many favor higher equity capital requirements, for instance, because they feel that lowering firms' probability of default in this manner is the best we can do.
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CEO of Professional Science Editing for Scientists @ prosciediting.com