charge-off

Or charge·off

[chahrj-awf, -of]

noun

1. a write-off, especially of a bad loan by a bank.

Word History and Origins

Origin of charge-off¹

charge + (write)-off ( def. )

Idioms and Phrases

Hurriedly depart, run away, as in After a few minutes, she charged off to the next exhibit . This term alludes to the military meaning of charge , “attack impetuously.” [Early 1500s]

Also, charge against . Consider or count as an accounting loss or expense, as in I'm charging off this purchase to overhead , or Let's charge the new computer against office supplies . [Late 1800s] Also see write off .

Attribute to, blame something for, as in We can charge off these errors to inexperience .

Example Sentences

“For lenders the increasing availability of online betting markets raises the potential for revolving debt spikes, accelerated defaults, and higher charge-off rates, particularly among subprime borrowers,” the analysts wrote, adding that widespread sports wagering represents “a new risk for lenders, one that they have not had to deal with historically and underwriting models may need to be adapted.”

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And it seeks a net charge-off rate of 0.5% to 0.55% through the cycle.

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The abrupt bankruptcies of auto-parts manufacturer First Brands and the subprime auto lender Tricolor, along with a $50 million loan charge-off by Zions Bancorp, raised worries that a humming credit market has concealed pockets of weakness.

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Chief Executive Harris Simmons said Monday that results were “marred” by a $50 million charge-off that the company disclosed last week to cover two loans taken out by borrowers facing fraud allegations.

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Zions’s announcement about its charge-off last week sent regional bank shares down, as investors are more concerned about potential losses following the bankruptcies of auto supplier First Brands and lender Tricolor.

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