June 17, 2010 / 10:41 AM / 9 years ago

FACTBOX-U.S., European bank writedowns, credit losses

 June 17 (Reuters) - Top U.S. and European banks have lost more than $1.2 trillion on toxic assets and bad loans since the start of 2007.
 U.S. banks are forecast to lose about $885 billion and Europe’s banks are seen losing nearly $1.3 trillion in the 2007-10 period, according to International Monetary Fund forecasts in May. Roughly two-thirds of the losses are expected to come from loans and the rest from securities.
 Below is a list of estimated losses (in billions of dollars at prevailing exchange rates):
   BANK                          2007     2008     2009    2010   TOTALS
                                                     (YTD)  Citigroup (C.N)               29.1     63.4     30.7     7.3   $130.5  Bank of America (BAC.N)       12.1     29.2     35.5    10.8    $87.6  Wachovia Corp*                 4.0     73.4                     $77.4  HSBC (HSBA.L)                 19.3     30.3     26.4            $76.0  Lloyds (LLOY.L)&               6.8     28.9     36.1            $71.8  Merrill Lynch**               25.1     38.6                     $63.7  Royal Bank Scotland (RBS.L)    7.0     23.5     21.3     4.0    $55.8  UBS UBSN.VX                          50.6      1.8     0.1    $52.5  JPMorgan Chase (JPM.N)         4.5     10.2     29.5     7.9    $52.1  Fannie Mae FNM.N             4.7     26.9     15.4            $47.0  Freddie Mac FRE.N            5.2     24.4     12.8            $42.4  Washington Mutual***           5.1     36.7                     $41.8  Barclays (BARC.L)              7.0     16.5     12.7     2.3    $38.5  Wells Fargo (WFC.N)            3.5      8.7     18.2     5.3    $35.7  Santander (SAN.MC)             4.8      8.3     13.2     3.2    $29.5  Lehman Brothers****           12.5     14.0                     $26.5  BNP Paribas+ (BNPP.PA)         2.4      8.0     11.4     1.7    $23.5  Morgan Stanley (MS.N)         10.3     10.1      2.4            $22.8  Commerzbank/Dresdner (CBKG.DE) 3.9     13.3      4.5            $22.3  UniCredit (CRDI.MI)            3.5      5.1     11.3     2.3    $22.2  Deutsche Bank (DBKGn.DE)       4.0     11.2      4.9     0.4    $20.5  BBVA (BBVA.MC)                 2.7      4.2      7.7     1.5    $16.1  Credit Suisse CSGN.VX        3.5     11.9      0.5     0.1    $16.0  C.Agricole+ (CAGR.PA)          2.7      4.4      6.3     1.4    $14.8  IKB &&                                                          $14.7  Societe Gen+ (SOGN.PA)         1.3      3.7      7.9     1.5    $14.4  National City*****                                              $14.0  Intesa Sanpaolo (ISP.MI)       1.6      4.5      4.9     0.9    $11.9  ING ING.AS                            7.1      2.4     0.9    $10.4  Bayern LB                      1.1      8.0                      $9.1  Goldman Sachs (GS.N)           1.7      4.9      1.9             $8.5  Natixis+ (CNAT.PA)             2.0      2.5      2.0     0.1     $6.6  Canadian Imp Bk Commerce                                         $6.5  Standard Chartered (STAN.L)    0.8      1.8      2.0             $4.6  Erste Bank (ERST.VI)           0.8      2.5      1.3             $4.6  Bear Stearns******             3.0      0.6                      $3.6  Fortis                                                           $3.1  WestLB                                                           $3.0  Rabobank                       0.8      1.7                      $2.5  =====================================================================  TOTAL                                                        $1,204.9
  
 (Sources: Reuters/annual reports/company filings)
 Estimates based on writedowns and losses from subprime securities, mortgages, CDOs, derivatives and SIVs, and losses on bad loans, or non-performing loans. The definition of a bad loan is complex and can vary between countries and often includes a provision for future loan losses.
 NOTES:
 *      Acquired by Wells Fargo at the end of 2008.
 **     Acquired by Bank of America on Jan 1, 2009.
 ***    Assets acquired by JPMorgan in Sept. 2008.
 ****   Filed for bankruptcy in Sept. 2008.
 *****  Bought by PNC Financial Services Group in Dec. 2008.
 ****** Bought by JPMorgan in March 2008.
 &      Includes HBOS, taken over by Lloyds in Jan. 2009.
 &&     Bought by Lone Star in Aug. 2008 after state-led bailouts.
 +      France bank estimates based on ‘cost of risk’.
   (Compiled by David Cutler, Steve Slater and Elinor Comlay; Editing by Michael Shields))    

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