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Another debt ceiling debacle could sink the economy

Last year's Congressional debt standoff hurt consumer confidence more than the collapse of Lehman Brothers, Betsey Johnson and Justin Wolfers write. This time could be worse.  Read more at Counterparties  

FACTBOX: Deutsche adds to global writedowns and credit losses

Thu Jul 31, 2008 6:45am EDT

(Reuters) - Deutsche Bank AG announced fresh writedowns on Thursday, taking its bill from the global financial crisis beyond $11 billion.

Below is a summary of credit-related writedowns and losses recorded by major institutions since the credit crunch hit in the third quarter of 2007:

COMPANY AMOUNT

(Billion Dollars)

Citigroup 46.40

UBS 36.70

Merrill Lynch 36.8

AIG 20.23

HSBC 18.70

RBS 16.50

IKB 14.73

Bank of America 14.60

Morgan Stanley 11.70

Deutsche Bank 10.95

Ambac 9.22

Credit Suisse 9.17

HBOS 9.01

Wachovia 8.90

MBIA Inc 8.41

Washington Mutual 8.10

Bayerische Landesbank 6.75

Societe Generale 6.40

Mizuho Financial Group 6.24

JPMorgan 6.05

Barclays 5.20

Dresdner Bank 3.45

Bear Stearns 3.40

Fortis 3.10

WestLB 3.10

BNP Paribas 2.70

UniCredit 2.70

Lloyds TSB 2.60

Nomura Holdings 2.46

DZ Bank 2.00

Natixis 2.00

Swiss Re 1.85

HSH Nordbank 1.70

LBBW 1.70

Commerzbank 1.24

Mitsubishi UFJ 1.19

Sumitomo 1.19

Total 347.03

* Estimates based on writedowns, loss provisions and trading losses from subprime securities, mortgages, CDOs, derivatives, and SIVs.

Sources: Reuters, company filings

(Reporting by Jonathan Stempel, Dan Wilchins, Steven Bertoni, Steve Slater, John O'Donnell and Lilla Zuill; Additional writing by Carl Bagh and Jijo Jacob; Editing by David Cutler and David Holmes)

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