By Yalman Onaran
Dec. 27 (Bloomberg) -- The following table shows asset writedowns and credit losses, including reserves set aside for bad loans, at more than 20 of the world's largest banks and securities firms this year. The charges stem from the collapse of the U.S. subprime mortgage market.
The figures, from company statements and filings, include charges the firms have said they expect to report for the fourth quarter. Analysts estimate additional writedowns and credit losses of $34 billion, which would bring the total for the year to $131 billion.
All figures are in billions and are net of financial hedges the firms used to mitigate their losses.
Firm Writedown Credit Loss Total
Citigroup $13.2 $2.6 $15.8
UBS 14.4 14.4
HSBC 0.9 9.8 10.7
Morgan Stanley 9.4 9.4
Merrill Lynch 7.9 7.9
Bank of America 4.8 1.3 6.1
Washington Mutual 4.2 4.2
Wachovia 2.4 1.5 3.9
Deutsche Bank 3.1 3.1
Canadian Imperial (CIBC) 3 3
Barclays 2.7 2.7
Bear Stearns 2.6 2.6
Royal Bank of Scotland 2.5 2.5
Lehman Brothers 1.5 1.5
Mizuho Financial Group 1.5 1.5
Wells Fargo 1.4 1.4
JPMorgan Chase 0.3 1 1.3
Credit Suisse 1 1
National City 0.9 0.9
Nomura Holdings 0.9 0.9
Japanese banks 0.8 0.4 1.2
(excluding Mizuho, Nomura)
Canadian banks 1.2 1.2
(excluding CIBC)
____ _____ _____
TOTALS* $74 $23.2 $97.2
*Totals reflect figures before rounding.
To contact the reporter on this story: Yalman Onaran in New York at yonaran@bloomberg.net.
Last Updated: December 27, 2007 10:36 EST
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