Charge-Off

RECENT NEWS
Reuters  Oct 26  Comment 
The rate of loan charge-offs by major U.S. banks has exceeded those seen in the early years of the Great Depression as the credit crisis continues to take a toll, Moody's Investors Service said on Monday.
George Washington's Blog  Oct 26  Comment 
In May, analyst Mike Mayo predicted that the bank loan loss rate would be higher than during the Great Depression. In a new report, Moody's has just confirmed (as summarized by Zero Hedge): The most recent rate of bank charge offs, which hit $45...
Stock Blog Hub  Oct 3  Comment 
Fifth Third Bancorp (FITB) expects its loan charge-offs to increase in the third quarter, primarily due to the increase in charge-offs associated with the Shared National Credit (SNC) examination that has been recently conducted by...
Stock Blog Hub  Sep 18  Comment 
Fifth Third Bancorp (FITB) expects its loan charge-offs to increase in the third quarter primarily due to the increase in charge-offs associated with the Shared National Credit (SNC) examination which has been recently conducted by regulators. The...
StreetInsider.com  Sep 15  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Corporate+News/E%2ATRADE+FINANCIAL+%28ETFC%29+Reports+Monthly+Activity+And+Updates+Loan+Delinquencies%2C+Expects+Net+Charge-offs+of+%24350M+To+%24375M/4943920.html for the full story.
MarketWatch  Aug 31  Comment 
U.S. consumer credit quality showed "signs of life" in July as credit card charge-offs fell, ending a streak of five record highs, Fitch Ratings said Monday. "We still need to see some measurable improvement in the delinquency and personal...
market folly  Aug 18  Comment 
This is a story that has been brewing for a while and we've tried to cover it when we're not tracking hedge fund portfolios. So far in 2009, the data surrounding credit card charge offs and mortgage delinquencies has not been pretty... at all. ...
MarketWatch  Jul 23  Comment 
Ohio-based Fifth Third Bancorp said on Thursday that its net chargeoffs as a percentage of loans almost doubled in the second quarter, driven by a surge in chargeoffs for commercial loans. Total net chargeoffs in the quarter rose to 3.08% of...
StreetInsider.com  Jul 22  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Corporate+News/Highlights+From+U.S.+Bancorp%27s+%28USB%29+Q2+Conference+Call%3B+Anticipate+Continued+Growth+in+Charge-Offs+and+Non-Performing+Assets/4811153.html for the full story.
Bloomberg  Jul 22  Comment 
Defaults on U.S. credit cards rose to a record 10.76 percent in June and may continue to climb through the middle of next year, according to Moody’s Investors Services.
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A "charge off" is made by a company when they deem an asset to have a lower fair value than recorded value. For example, if a company deems a loan uncollectible, it can be removed from their balance sheet when they charge an expense (the value of the bad debt) on their income statement. Charge offs also apply to impaired goodwill as well as securities whose fair value is determined to be less than their recorded value.

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