Global Writedowns, Credit Losses Near $350 Billion

August 7, 2008

According to the latest tally compiled by Reuters, around $349 billion of credit-related writedowns and losses have so far been recorded by major institutions since the credit crunch hit in the third quarter of 2007.*

The individual amounts in billions of dollars) are as follows :

FIRM: AMOUNT: Citigroup 46.40
Merrill Lynch 36.80
UBS 36.70
AIG 20.23
HSBC 18.70
RBS 16.50
IKB 14.73
Bank of America 14.60
Morgan Stanley 11.70
Deutsche Bank 11.40
Ambac 9.22
Barclays 9.20
Wachovia 8.90
MBIA Inc 8.41
Credit Suisse 8.13
Washington Mutual 8.10
HBOS 7.50
Bayerische Landesbank 6.75
Societe Generale 6.40
Mizuho Financial Group 6.24
JPMorgan 6.05
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 349.04
* 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; Editing by David Cutler)