The FME has processed figures showing defaults by borrowers of depository institutions at the end of the 4th quarter of fiscal year 2007 and comparable figures for the preceding quarters. In this analysis, default is defined as having amortisation and interest payments in arrears for more than one month. The default figures are total figures, i.e. stock of specific provisions has not been subtracted. This analysis presents the development of these default rates from year-end 2000. The data compiled does not include the subsidiaries of the deposit institutions.