Business Standard

Subprime loss: $70bn and counting....

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BS Reporter Mumbai
 
BankLoss
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.

 

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First Published: Feb 05 2008 | 12:00 AM IST

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