List of writedowns due to subprime crisis explained

Write-downs on the value of loans, MBS and CDOs due to the subprime mortgage crisis.

CompanyBusiness Type Loss (Billion USD)References
UBSbank $37.7 bln [1] [2] [3]
Citigroupbank $39.1 bln [4] [5] [6]
Merrill Lynchinvestment bank $29.1 bln [7] [8] [9]
Morgan Stanleyinvestment bank $11.5 bln[10] [11] [12]
Crédit Agricolebank $4.8 bln [13]
HSBCbank $20.4 bln [14] [15] [16]
Bank of Americabank$7.95 bln [17] [18] [19]
Canadian Imperial Bank of Commercebank$3.2 bln [20]
Deutsche Bankbank $7.7 bln [21] [22] [23] [24]
Mizuho Financial Groupbank $5.5 bln [25]
Barclaysbank $3.1 bln [26]
Bear Stearnsinvestment bank $2.6 bln [27] [28]
Royal Bank of Scotlandbank $15.2 bln [29] [30] [31] [32] [33]
Washington Mutual$2.4 bln [34] [35]
Swiss Re$2.04 bln [36] [37]
Lehman Brothersinvestment bank $3.93 bln [38] [39]
Landesbank Baden-Württembergbank $1.1 bln [40]
JPMorganbank $5.5 bln [41] [42]
Goldman Sachsinvestment bank $1.5 bln [43]
Freddie Mac$4.3 bln [44]
Credit Suissebank $9.0 bln [45] [46]
Wells Fargobank $2.9 bln [47] [48]
Wachoviabank $11.1 bln [49] [50] [51] [52]
Royal Bank of Canadabank $1.2 bln [53] [54] [55]
Fannie Maemortgage GSE$0.896 bln [56]
Municipal Bond Insurance Association$3.3 bln [57]
Hypo Real Estatebank$0.580 bln [58]
Ambac Financial Group$3.5 bln [59] [60] [61]
Commerzbank$1.1 bln [62]
Société Généralebank $3.0 bln [63] [64]
BNP Paribasbank $0.870 bln [65] [66]
WestLBbank $2.74 bln [67] [68]
AIGinsurance $11.1 bln [69] [70]
Landesbank Bayernbank $6.7 bln [71]
Natixisbank $1.75 bln [72]
Countrywide Financialmortgage bank $4.0 bln [73] [74]
DZ Bankbank$2.1 bln [75]
Fortisbank $2.3 bln [76]
ICICI Bankbank $0.264 bln [77]
IKB Deutsche Industriebankbank $3.45 bln [78]
Aozora Bankbank $0.397 bln [79]
Dresdner Bankbank $3.49 bln [80] [81]
Lloyds Banking Groupbank $8.38 bln [82]
Bank of Chinabank $2.0 bln
Industrial and Commercial Bank of Chinabank $0.448 bln[83]

Notes and References

  1. Web site: UBS Writes Down $14 Billion - Financials * Europe * News * Story - MSNBC.com . 2008-02-24 . 2008 .
  2. News: Elena Logutenkova . Elizabeth Hester . UBS Reports Record Loss After $14 Billion Writedown (Update7) . Bloomberg.com . . New York City, United States . 2008-01-30 . 2008-02-24 .
  3. News: Elena Logutenkova . UBS Says Ospel Resigns After Writedowns Lead to Loss (Update7) . Bloomberg.com . . New York City, United States . 2008-04-01 . 2008-04-01 .
  4. Web site: Financial News and Information from Financial News Online US . 2008-02-24 . 2008 . https://web.archive.org/web/20120319213515/http://www.efinancialnews.com/ . 2012-03-19 . dead .
  5. Web site: The article you've requested is no longer available. . 2008-02-24 . 2008 . dead . https://web.archive.org/web/20080118104353/http://ap.google.com/article/ALeqM5i2PNpRzvc02u8Hv6VQVBeTamWXqgD8U6AUJG0 . January 18, 2008 .
  6. News: Fiona Walsh . Citigroup to shed 9,000 jobs after posting $5.1bn loss . . . . 2008-05-17 . 2008-04-18 .
  7. News: Bradley Keoun . "Startling" $8 billion loss for Merrill Lynch . . Frank A. Blethen . 2007-10-25 . 2008-02-24 .
  8. News: CORRECTED - UPDATE 2-Merrill Lynch takes about $16 bln in write-downs. Reuters . 2008-02-24 . 2008-01-17. Tim. McLaughlin.
  9. News: Great Expectations for Merrill CEO . The Wall Street Journal . 2008-04-18 . Susanne . Craig.
  10. News: More woes for Morgan Stanley - Dec. 19, 2007 . 2008-02-24 . CNN . 2007-12-19 . David . Ellis.
  11. Web site: Goldman CEO sees no big write-down as firm shorts mortgages - MarketWatch . 2008-02-24 . 2007 .
  12. News: Morgan Stanley: Profit down, shares up . CNN . 2008-03-19 . 2010-05-11 . David . Ellis.
  13. News: Bloomberg.com: Worldwide . 2008-02-24 . 2008 .
  14. News: HSBC in $17bn credit crisis loss . BBC News . 2008-03-03 . 2010-05-11.
  15. Web site: HSBC in $17 billion write-down. financemarkets.co.uk. 2008-06-09. https://web.archive.org/web/20090221035227/http://www.financemarkets.co.uk/2008/03/03/hsbc-in-17-billion-write-down/. 2009-02-21. dead.
  16. http://www.rttnews.com/Content/sector-market-trends.aspx?Node=B5&Id=603213 RTTNews - Financial News Analysis, Coverage Reiterated, Sector/Indices Articles, Stock Market News, Broker Ratings
  17. News: Bank of America Joins Parade of Mortgage-Related Losses . The New York Times . Julie . Creswell . 2008-01-23 . 2010-05-11.
  18. News: Bank Of America Derailed - Forbes.com . Forbes . dead . https://web.archive.org/web/20071020015505/http://www.forbes.com/business/2007/10/18/bank-america-derailed-biz-cx_lm_1018bank.html . October 20, 2007 .
  19. News: Bank of America's profit plunges 77% . CNN . 2008-04-21 . 2010-05-11 . David . Ellis.
  20. News: Bloomberg.com: Canada . 2008-02-24 . 2008-01-15.
  21. News: Meltdown costs Deutsche Bank €2.2bn . https://web.archive.org/web/20071204074107/http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/10/04/cndeutsche104.xml . dead . 2007-12-04 . 2008-02-24 . The Daily Telegraph . London . Sophie . Brodie . 2007-10-04.
  22. News: Deutsche Bank Writes Down $3.1 Billion - New York Times . 2008-02-24 . The New York Times . Mark . Landler . 2007-10-03.
  23. News: Deutsche Bank Posts Quarterly Loss, Evidence of the Reach of the Financial Crisis . The New York Times . Mark . Landler . 2008-04-30 . 2010-05-11.
  24. News: Subprime Losses Top $379 Billion on Balance-Sheet Marks: Table . Bloomberg . 2008-05-19.
  25. News: Mizuho stung by $5.5 billion in subprime pain . https://web.archive.org/web/20080413103033/http://www.msnbc.msn.com/id/24065432/ . live . 2008-04-13 . 2008-04-20 . 2008 .
  26. News: Barclays, Credit Suisse report trouble from credit market - USATODAY.com . 2008-02-24 . USA Today . 2008-02-19.
  27. News: Bear Stearns takes $1.9B writedown in fourth quarter - Dec. 20, 2007 . 2008-02-24 . CNN . 2007-12-20 . David . Ellis.
  28. News: Bear Stearns Takes a $1.2 Billion Write-Down - New York Times . 2008-02-24 . The New York Times . LANDON . THOMAS Jr . 2007-11-14.
  29. News: A Smaller Write-Down at Royal Bank - New York Times . 2008-02-24 . The New York Times . 2007-12-07.
  30. Web site: Adding up is hard to do with RBS. ft.com.
  31. News: RBS May Cut 7,000 Investment Banking Jobs, People Say (Update2) . Bloomberg . 2008-04-28.
  32. Web site: Huge RBS markdown shows crunch may be long way from over - Financial Week. financialweek.com. 2021-02-10. 2018-01-21. https://web.archive.org/web/20180121184238/http://www.financialweek.com/apps/pbcs.dll/article?AID=%2F20080428%2FREG%2F983196993%2F-1%2FDATAMINING. dead.
  33. Web site: RBS job cuts: Bank admits staff losses are. scotsman.com.
  34. News: Bloomberg.com: Worldwide . 2008-02-24 . 2008 .
  35. News: Washington Mutual 3Q Earnings to Tumble - washingtonpost.com . 2008-02-24 . The Washington Post . 2007-10-06.
  36. News: Swiss Re hit by $1 bln credit market insurance loss . 2008-02-24 . Reuters . 2007-11-19.
  37. News: Swiss Re First-Quarter Profit Falls on Writedown (Update6) . Bloomberg . 2008-05-06.
  38. News: My Stocks & Funds . CNN . 2010-05-11 . dead . https://web.archive.org/web/20080409042610/http://money.cnn.com/2008/04/01/news/companies/banks_liquidity.ap/index.htm?postversion=2008040111 . April 9, 2008 .
  39. News: Lehman's Preferred Solution - Forbes.com . Forbes . dead . https://web.archive.org/web/20080407031045/http://www.forbes.com/markets/2008/03/31/lehman-finance-bear-markets-equity-cx_ra_0331markets40.html . April 7, 2008 .
  40. Web site: FT.com / Companies / Financial services - LBBW faces €800m writedown . 2008-02-24 . 2008 .
  41. News: JPMorgan Chase profit falls 34 percent - Jan. 16, 2008 . 2008-02-24 . CNN . 2008-01-16 . David . Ellis.
  42. News: J.P. Morgan Hit Hard by Credit Crisis . The Washington Post . 2008-04-17 . 2010-05-11.
  43. Web site: Bear takes $700 mln in write-downs on mortgages, loan commitments - MarketWatch . 2008-02-24 . 2008 .
  44. News: The Fortune 500's biggest losers. CNN . 2010-05-11 . 2008-04-24.
  45. News: New $2.8 Billion Write-Down Jolts Credit Suisse - New York Times . 2008-02-24 . The New York Times . David . Jolly . 2008-02-20.
  46. Web site: The Associated Press: Credit Suisse Q1 write-downs of $5.3B drives $2.1B loss. https://web.archive.org/web/20080517051419/http://ap.google.com/article/ALeqM5gvuWIjNlceE5BfWYrG1eoftAkcKwD908687G1. 17 May 2008. google.com.
  47. News: Wells Fargo No Longer Unscathed, Notes $1.4 Billion Loss - Business on The Huffington Post . 2008-02-24 . 2008 . Michelle . Kung.
  48. Web site: Wells Fargo Earns $2 Billion . finchannel.com.
  49. News: Wachovia faces heat, may write down over .5 bn in Q4- International Business-News-The Economic Times . The Times Of India.
  50. News: Bank of America, Wachovia Crushed - Forbes.com . Forbes . 2008-01-22 . Ruthie . Ackerman.
  51. News: Wachovia to cut jobs after losses . BBC News . 2008-04-14 . 2010-05-11.
  52. http://wachovia.com/inside/page/0,,134_307%5E1777,00.html Wachovia Press Releases
  53. News: Royal Bank hit by subprime loss . 2008-02-24 . The Star . Toronto . 2007-11-13.
  54. News: Bloomberg.com: Canada . 2008-02-24 . 2008 .
  55. News: Write-Down at Royal Bank of Canada . The New York Times . 2008-05-15 . 2010-05-11.
  56. News: Fannie Mae may face more losses on the bonds it holds - Dec. 4, 2007 . 2008-02-24 . CNN . 2007-12-04 . Peter . Eavis.
  57. News: Market Mixed On MBIA, Countrywide - Forbes.com . https://web.archive.org/web/20080317052314/http://www.forbes.com/home/markets/2008/01/09/briefing-mbia-countrywide-markets-equity-cx_ss_0109markets13.html . dead . March 17, 2008 . 2008-02-24 . 2008-01-09 . Steve . Schaefer.
  58. News: German bank hit by sub-prime woes . 2008-02-24 . 2008-01-15 . BBC News.
  59. News: Bloomberg.com: Exclusive . 2008-02-24 . 2008-01-17.
  60. Web site: Ambac Tumbles on More Subprime Fallout . https://web.archive.org/web/20080318131457/http://www.businessweek.com/investor/content/jan2008/pi20080116_740896.htm?chan=top+news_top+news+index_investing . dead . March 18, 2008 . 2008-02-24 . 2008 .
  61. News: CREDIT WRAPUP 3-US subprime losses grow, top Japan bank hit too. Reuters . 2008-02-24 . 2008-01-16. Jennifer. Ablan.
  62. News: Writedown clouds Commerzbank gain . 2008-02-24 . 2008-02-14 . BBC News.
  63. Web site: The article you've requested is no longer available. . 2008-02-24 . 2008 . dead . https://web.archive.org/web/20080129194600/http://ap.google.com/article/ALeqM5h8jkMIDj4zmw-2u6_pyVeOLPywLQD8UCA2LO0 . January 29, 2008 .
  64. News: U.S. Stocks Add To Gains - Forbes.com . 2008-02-24 . 2008 . dead . https://web.archive.org/web/20080129125715/http://www.forbes.com/markets/2008/01/24/briefing-earnings-nokia-markets-equity-cx_ss_0124markets12.html . January 29, 2008 .
  65. Web site: The Associated Press: BNP 4Q Net Profit May Sink 42 Pct . https://archive.today/20070609092030/http://ap.google.com/article/ALeqM5ip1ZZczx5LPDY3eby26M39ghzKzQD8UG6C180 . dead . 2007-06-09 . 2008-02-24 . 2008 .
  66. News: Free Preview - WSJ.com . 2008-02-24 . The Wall Street Journal . 2008-01-30 . Nicolas . Parasie.
  67. News: WestLB Posts 1.6 Billion-Euro Loss on Writedowns . 2008-04-03 . Bloomberg . 2008-04-02.
  68. Web site: Exchange Rate Average (US Dollar, Euro) - X-Rates. x-rates.com.
  69. Web site: The $400 Billion Black Hole - Forbes.com. https://web.archive.org/web/20080304132938/http://www.forbes.com/business/2008/02/29/banks-mortgages-credit-biz-wall-cx_lm_0229melting.html. 4 March 2008. forbes.com.
  70. https://money.cnn.com/news/newsfeeds/articles/djf500/200802281834DOWJONESDJONLINE001253_FORTUNE5.htm CNN
  71. News: Bloomberg.com: Germany . 2008-04-03 . 2008 .
  72. News: French bank reveals bad debt loss . 2008-02-24 . 2008-02-15 . BBC News.
  73. News: FACTBOX-Subprime crisis affects banks worldwide. Reuters . 2008-02-24 . 2008-02-17.
  74. News: $3B in write-downs send Countrywide to $893M loss . USA Today . 2008-04-29 . 2010-05-11.
  75. http://www.iht.com/articles/ap/2008/02/28/business/EU-FIN-COM-Germany-DZ-Bank-Subprime.php Germany's DZ Bank writes down nearly €1.4 billion in subprime-related investments - International Herald Tribune
  76. News: Fortis Quarterly Profit Falls on Subprime Writedowns (Update4) . Bloomberg . 2008-03-07.
  77. News: Govardhana . Rangan. ICICI Bank's Marked-to-Market Loss $264.34 Million. Bloomberg. 2008-03-04.
  78. http://afp.google.com/article/ALeqM5g1M60Kt9hi8CKV21XOLnM7uqAQeQ AFP: More bad news at German subprime casualty IKB
  79. Web site: Aozora Bank Cuts Earnings Estimates on Subprime Mess - Asia Press Release Distribution. JCN Newswire .
  80. News: Deutsche loses as Dresdner imperils Allianz . https://web.archive.org/web/20080719193405/http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article3837396.ece . dead . July 19, 2008 . The Times . London . Nick . Hasell . 2008-04-29 . 2010-05-11.
  81. Web site: Exchange Rate Average (US Dollar, Euro) - X-Rates. x-rates.com.
  82. News: Lloyds in new £387m writedown . The Independent . London . Sean . Farrell . 2008-05-07 . 2010-05-11.
  83. News: Goldman ICBC Piece Rises Fivefold as Chinese Bank Claims No. 1 . Bloomberg . 2008-06-25.

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