AGED FAIL
\ˈe͡ɪd͡ʒd fˈe͡ɪl], \ˈeɪdʒd fˈeɪl], \ˈeɪ_dʒ_d f_ˈeɪ_l]\
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A FAILTO RECEIVE or FAILTO DELIVER between two parties that is not settled within 30 days. In most instances the party expecting to receive securities must remove the entry from the ASSET accounts on the balance sheet until the error is resolved. Aged fails may signal increased PROCESS RISK.
By Henry Campbell Black
