Subprime Loss Writedowns – $396 billion and still counting…!
All numbers are in billions of U.S. dollars, converted at today’s exchange rate if reported in another currency. They are net of financial hedges the firms used to mitigate losses.
Firm Writedown & Loss Capital Raised
Citigroup 42.9 44.1
UBS 38.2 28.6
Merrill Lynch 37.1 17.9
HSBC 19.5 3.5
IKB Deutsche 15.9 13.1
Royal Bank of Scotland 15.2 24
Bank of America 15.1 20.7
Morgan Stanley 14.1 5.6
JPMorgan Chase 9.8 7.8
Credit Suisse 9.6 1.5
Washington Mutual 9.1 12.1
Credit Agricole 8.3 9.1
Lehman Brothers 8.2 13.9
Deutsche Bank 7.6 3.2
Wachovia 7 10.5
HBOS 7 7.8
Bayerische Landesbank 6.7 -
Fortis 6.6 1
Canadian Imperial (CIBC) 6.5 2.9
Barclays 6.3 9.7
Societe Generale 6.2 10.1
Mizuho Financial Group 6 -
ING Groep 6 4.9
WestLB 4.9 7.7
LB Baden-Wuerttemberg 4 -
Goldman Sachs 3.8 0.6
Dresdner 3.4 -
Natixis 3.4 0.8
E*Trade 3.3 1.8
Wells Fargo 3.3 4.1
Bear Stearns* 3.2 -
National City 3.1 8.9
Lloyds TSB 2.7 -
Landesbank Sachsen 2.7 -
BNP Paribas 2.7 -
HSH Nordbank 2.5 -
Nomura Holdings 2.4 1.2
ABN Amro* 2.4 -
DZ Bank 2.1 -
Bank of China 2 -
Commerzbank 1.9 -
Rabobank 1.7 -
Bank Hapoalim 1.7 2.6
Royal Bank of Canada 1.6 -
Mitsubishi UFJ 1.6 -
UniCredit 1.6 -
Alliance & Leicester 1.4 -
Fifth Third 1.4 2.6
Dexia 1.3 -
Caisse d'Epargne 1.2 -
Hypo Real Estate 1 -
Gulf International 1 1
Sovereign Bancorp 0.9 1.9
Sumitomo Mitsui 0.9 3.1
Sumitomo Trust 0.7 1
Keycorp 0.6 1.7
DBS Group 0.2 1.1
European banks not 6.1 2.4
listed above (a)
Asian banks not 4.5 6.4
listed above (b)
North American banks 3.8 1.3
not listed above (c)
____ ____
TOTAL** 395.8 302.1
* These banks have been acquired. Writedowns reflect figures
announced prior to their acquisition.
** Total reflects figures before rounding. Some company names
have been abbreviated for space.
Source: Bloomberg
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