Global Credit Data’s Richard Crecel explains that banks are well positioned to manage corporate defaults in Global Treasurer article

Writing for The Global Treasurer, Global Credit Data’s (GCD) Executive Director, Richard Crecel, explains that banks, in general, have adequate recovery strategies in place to deal with corporate defaults.

GCD data shows that banks recover, on average, 76% of debts owed by large corporate borrowers after default. What’s more, in most cases, banks will recover nearly all of the outstanding amount on a defaulted loan.

In turn, the article explores the reasons behind such high recovery rates and sheds some light on how long it actually takes for banks to recover defaulted loans.

Read the full article here