Subprime loss: $70bn and counting....

 

Bank	Loss
Citigroup:	$18.0 billion
UBS:	$13.5 billion
Morgan Stanley:	$9.4 billion
Merrill Lynch:	$8.0 billion
HSBC:	$3.4 billion
Bear Stearns:	$3.2 billion
Deutsche Bank:	$3.2 billion
Bank of America:	$3.0 billion
Barclays:	$2.6 billion
Royal Bank of Scotland:	$2.6 billion
IKB:	$2.6 billion
Freddie Mac:	$2.0 billion
Credit Suisse:	$1.0 billion
Wachovia:	$1.1 billion

The list, complied by BBC from company reports and reported on its website, totals over $70 billion declared losses to date.

The list does not include the $2bn loss reported by SocGen, and smaller losses such as BNP Paribas, Bank of Tokyo-Mitsubishi UFJ and others many of whom are reporting $500 milllion or more losses.

According to a report on the BBC website, it is estimated that ultimately losses suffered by financial institutions could be between $220 billion and $450 billion as the $1 trillion in subprime mortage bonds is revalued.