Check the amount of losses due to the subprime crisis for big guns of the financial sector. And remember.... its just the beginning.
Bank : Loss
Citigroup: $18.0 billion
UBS: $13.5 billion
Morgan Stanley: $9.4 billion
Merrill Lynch: $8.0 billion
HSBC: $3.4 billion
Bear Stearns: $3.2 billion
Deutsche Bank: $3.2 billion
Bank of America: $3.0 billion
Barclays: $2.6 billion
Royal Bank of Scotland: $2.6 billion
IKB: $2.6 billion
Freddie Mac: $2.0 billion
Credit Suisse: $1.0 billion
Wachovia: $1.1 billion
The list, complied by BBC from company reports and reported on its website, totals over $70 billion declared losses to date.The list does not include the $2bn loss reported by SocGen, and smaller losses such as BNP Paribas, Bank of Tokyo-Mitsubishi UFJ and others many of whom are reporting $500 milllion or more losses.According to a report on the BBC website, it is estimated that ultimately losses suffered by financial institutions could be between $220 billion and $450 billion as the $1 trillion in subprime mortage bonds is revalued.
0 comments:
Post a Comment