(See my Credit Crisis Timeline for the news stories associated with the writedowns and related events during the crisis, the most recent of which you can find here.)
Yalman Onaran at Bloomberg News has tallied the writedowns in the credit crisis to date at $501 billion. More importantly, Bloomberg has broken out the writedowns by firm. These are the most complete statistics available on the writedowns by individual bank and Onaran has kept this tally available since late December last year. More stats are available on the Bloomberg terminal at WDCI, but below is what Bloomberg has that is publicly available on the web.
The collapse of the U.S. subprime mortgage market last year has saddled banks worldwide with $501 billion of losses from declining values of securities tied to all types of home loans and commercial mortgages as well as leveraged-loan commitments.
Banks and brokers have raised $353 billion of capital to cope with the writedowns, according to data compiled by Bloomberg. The gap between losses and capital infusions, which now stands at $148 billion, has regularly narrowed to about $80 billion as capital raising follows writedown announcements.
The following table shows the asset writedowns and credit losses as well as the capital raised in response. All numbers are in billions of U.S. dollars, converted at today’s exchange rate if reported in another currency. For quarterly breakdowns for each bank and region, click on WDCI.(on your Bloomberg terminal)
Firm Writedown & Loss Capital Raised
Citigroup 55.1 49.1
Merrill Lynch 51.8 29.9
UBS 44.2 28.3
HSBC 27.4 3.9
Wachovia 22.5 11
Bank of America 21.2 20.7
IKB Deutsche 15.3 12.6
Royal Bank of Scotland 14.9 24.3
Washington Mutual 14.8 12.1
Morgan Stanley 14.4 5.6
JPMorgan Chase 14.3 7.9
Deutsche Bank 10.8 3.2
Credit Suisse 10.5 2.7
Wells Fargo 10 4.1
Barclays 9.1 18.6
Lehman Brothers 8.2 13.9
Credit Agricole 8 8.8
Fortis 7.4 7.2
HBOS 7.1 7.6
Societe Generale 6.8 9.8
Bayerische Landesbank 6.4 -
Canadian Imperial (CIBC) 6.3 2.8
Mizuho Financial Group 5.9 -
ING Groep 5.8 4.8
National City 5.4 8.9
Lloyds TSB 5 4.9
IndyMac 4.9 -
WestLB 4.7 7.5
Dresdner 4.1 -
BNP Paribas 4 -
LB Baden-Wuerttemberg 3.8 -
Goldman Sachs 3.8 0.6
E*Trade 3.6 2.4
Nomura Holdings 3.3 1.1
Natixis 3.3 6.7
Bear Stearns 3.2 -
HSH Nordbank 2.8 1.9
Landesbank Sachsen 2.6 -
UniCredit 2.6 -
Commerzbank 2.4 -
ABN Amro 2.3 -
DZ Bank 2 -
Bank of China 2 -
Fifth Third 1.9 2.6
Rabobank 1.7 -
Bank Hapoalim 1.7 2.4
Mitsubishi UFJ 1.6 1.5
Royal Bank of Canada 1.5 -
Marshall & Ilsley 1.4 -
Alliance & Leicester 1.4 -
U.S. Bancorp 1.3 -
Dexia 1.2 -
Caisse d'Epargne 1.2 -
Keycorp 1.2 1.7
Sovereign Bancorp 1 1.9
Hypo Real Estate 1 -
Gulf International 1 1
Sumitomo Mitsui 0.9 4.9
Sumitomo Trust 0.7 1
DBS Group 0.2 1.1
Other European banks* 7.2 2.3
Other Asian banks* 4.6 7.8
Other U.S. banks* 2.9 1.9
Other Canadian banks* 1.8 -
____ ____
TOTAL** 501.1 352.9
Source
Banks’ Subprime Losses Top $500 Billion on Writedowns – Yalman Onaran, Bloomberg News