Global Bank write-offs and failures


Since the housing bubble created a global credit crunch in June 2007 after Bear Stearns announced the collapse of two funds it ran (its High-Grade Structured Credit Fund and its High Grade Structured Credit Enhanced Leveraged Fund), there have been a massive number of announced write-offs and bank failures. As a result, a number of banks have also had to issue new shares to shore up their balance sheets. Here is a partial list of what I have been able to ascertain thus far. I will write more as information comes available.

Bank Collapses
Carlyle Capital
Bear Stearns
Northern Rock

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Forced Sales
Countrywide Financial

New Capital
Washington Mutual
Merrill Lynch
Morgan Stanley UBS

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UBS: $37.4bn
Merrill Lynch: $22bn
Citigroup: $21.1bn
HSBC: $17.2bn
Morgan Stanley: $9.4bn
Deutsche Bank: $7.1bn
Bank of America: $5.3bn
Bear Stearns: $3.2bn
JP Morgan Chase: $3.2bn
BayernLB $3.2bn
Barclays: $2.6bn
IKB: $2.6bn
Royal Bank of Scotland: $2.6bn
Credit Suisse:$2bn

Update: Information updated since in full in Credit Crisis Timeline. This includes a timeline of major events in the credit crisis, major writedowns by institution and projected writedowns for the financial system as a whole.

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