As a percent of total loans and leases, total net charge-offs
have fallen from about 0.
Some of the industries which had higher charge-off
rates for franchises than for total SBA charge-off
rates included gift/novelty, sporting goods, automobile related, and hobby/toy segments (Note: These industries were singled out only if they had a minimum of $10 million in franchise disbursals).
1933), addressed the specific charge-off
requirement and noted that Congressional intent was to allow a deduction for business bad debts in the year in which ascertained worthless, provided there was "some specific act of the taxpayer clearly indicating their abandonment as assets.
Notably, the Service rejected requests for deemed charge-off
relief when a taxpayer acquired, at a discount, debt that had been charged off previously (i.
For this large subset of banks, seasonally adjusted charge-off
and delinquency rates for the major types of loans commercial and industrial, real estate, and consumer--rose through the first half of 1991.
The amount of the deemed charge-off
is the amount by which the MDI's tax basis exceeds the greater of its fair market value (FMV) or the amount of the debt recorded on the bank's books and records (reduced as appropriate by specific loan loss allowances).
For the banking system as a whole, the net charge-off
rate on all loans rose from 0.
In a regulatory filing, the McLean, Virginia-based company said that the annual net charge-off
rate, or the percentage of loans the company believes won't be repaid to total managed loans, rose to 9.
The projected increase in the provision for loan loss expense for the fourth quarter is the result of the sale or charge-off
of various non- performing and adversely classified loans.
less recoveries as a percentage of total loans) and past due rates (loans past due 90 days or more and nonaccruing loans as a percentage of total loans) are calculated for the nonbank subsidiaries engaged in commercial finance, mortgage banking, consumer finance, and leasing that reported values of more than zero for loans and leases.
Asset Quality The overall charge-off
rate resumed its upward climb last year, after falling somewhat in 1987.
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