That at any rate is the market view, according to the price of a credit-default swap which pays out if the borrower defaults (see chart).

至少，这是市场的看法，这是根据如果借款人违约而需要支付的信用违约掉期的价格而得出的结论（见图表）。

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On June 17th the cost of insuring Illinois' bonds against default hit a record high, rising above that of California, America's largest municipal borrower.

本月17日，伊利诺斯州债券的违约担保成本创下历史新高，超过了美国最大的债务州- - -加利福利亚。

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The Borrower shall notify the Lender of any Default (and the steps, if any, being taken to remedy it) promptly upon becoming aware of its occurrence.

一经发现任何违约事件(及其采取的补救措施，如若存在)借款人应立即通知贷款行。

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To calculate the value of each loan in their portfolio, for example, bankers need to know three things: how much it will earn the bank if fully paid back, how likely the borrower is to default and, in the case of default, how much the bank can expect to get back.

ECONOMIST: Discredited

So long as there is no chance of a bail-out by the centre and the rules of Europe's monetary union specifically rule this out default risk will remain with the borrower and be reflected in its bond yields.

ECONOMIST: Europe's single-currency rules

Nearly a third of our states do not allow lenders the recourse provisions necessary to go after a borrower's personal assets in case of default on a residential mortgage.

WSJ: Robert Bridges: A Home Is a Lousy Investment