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Taken from CNBC’s Daily Open, our international markets newsletter — Subscribe today
When you can’t repay a bank loan, that’s distressing — but probably not for the bank.
But when tens of thousands of people, who had good credit ratings, can’t, it raises concerns about the health of the economy.
And when it’s companies defaulting on very big loans, leading to charges — that is, money the bank writes off as a loss because it has given up on recovering it — and bankruptcies, it’s time for everyone to put on their detective hats.
