It's far From Over, More Losses on the Way

Source: http://online.wsj.com/article/SB125427067994651171.html?mod=rss_whats_news_us

 

Additional $1.5 Trillion in Write-Downs Forecast by End of 2010 despite Rising Securities Prices

 

Rising global securities prices reduced the International Monetary Fund's estimate of bank losses, but banks around the world -- especially in Europe -- still are likely to face additional write-downs of $1.5 trillion by the end of next year, the IMF said.

Overall, the IMF calculates that the global financial crisis will produce $3.4 trillion in losses for financial institutions, between 2007 and 2010, a chunk of which already has been recognized.