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

Nov 12 (Reuters) - Top U.S. and European banks have lost more than $1 trillion on toxic assets and from bad loans since the start of 2007, and were expected to top $2.8 trillion from 2007-10 with roughly two thirds from loans and the remainder on securities, according to International Monetary Fund forecasts. U.S. banks were expected to take a $1 trillion hit and European bank losses will reach $1.6 trillion, the IMF said at the end of September. It said U.S. banks were about 60 percent through their losses, but British and eurozone banks were only 40 percent through their writedowns. Below is a list of estimated losses (in billions of dollars at current exchange rates): BANK 2007 2008 2009 YTD TOTAL Citigroup 29.1 63.4 21.8 $124.0 Wachovia Corp* 4.0 73.4 $77.4 Bank of America 12.1 29.2 27.0 $68.3 Merrill Lynch** 25.1 38.6 $63.7 HSBC 19.3 30.3 13.9 $63.5 Lloyds& 6.8 28.9 22.3 $58.0 UBS 50.6 1.7 $52.3 Royal Bk Scotland 7.0 23.5 19.6 $50.1 Fannie Mae 4.7 26.9 15.4 $47.0 Freddie Mac 5.2 24.4 12.8 $42.4 Washington Mutual*** 5.1 36.7 $41.8 Barclays 7.0 16.5 10.3 $33.8 JPMorgan Chase 4.5 10.2 16.8 $31.5 Lehman Brothers**** 12.5 14.0 $26.5 Santander 4.8 8.3 10.6 $23.7 Commerzbank/Dresdner 3.9 13.3 4.5 $22.3 Morgan Stanley 10.3 10.1 1.7 $22.1 Wells Fargo 3.5 8.7 8.2 $20.4 Deutsche Bank 4.0 11.2 3.1 $18.3 Credit Suisse 3.5 11.9 1.9 $17.3 IKB && $14.7 National City***** $14.0 BNP Paribas+ 2.4 8.0 3.4 $13.8 BBVA 2.7 4.2 5.5 $12.4 UniCredit 3.5 5.1 2.4 $11.0 Societe Gen+ 1.3 3.7 5.8 $10.8 C.Agricole+ 2.7 4.4 3.1 $10.2 ING 7.1 2.4 $9.5 Bayern LB 1.1 8.0 $9.1 Intesa Sanpaolo 1.6 4.5 2.6 $8.7 Goldman Sachs 1.7 4.9 1.9 $8.5 Natixis+ 2.0 2.5 3.1 $7.6 Canadian Imp Bk Commerce $6.5 Erste Bank 0.8 2.5 1.3 $4.6 Standard Chartered 0.8 1.8 1.1 $3.7 Bear Stearns****** 3.0 0.6 $3.6 Fortis $3.1 WestLB $3.0 Rabobank 0.8 1.7 $2.5 =============================================================== Total $1,071.7 (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 August after state-led bailouts. + France bank estimates based on 'cost of risk'. (Compiled by David Cutler, Steve Slater, and Elinor Comlay;) ([e-mail]; [phone]; Reuters Messaging: [e-mail]) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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