The latest write down takes the amount of bad debt incurred by the bank in the US to £7.5bn over the past year. Main losses come from:
Citigroup: $40.7bn
UBS: $38bn
Merrill Lynch: $31.7bn
HSBC: $15.6bn
Bank of America: $14.9bn
Morgan Stanley $12.6bn
Royal Bank of Scotland: $12bn
JP Morgan Chase: $9.7bn
Washington Mutual: $8.3bn
Deutsche Bank: $7.5bn
Wachovia: $7.3bn
Credit Agricole: $6.6bn
Credit Suisse: $6.3bn
Mizuho Financial $5.5bn
Bear Stearns: $3.2bn
Barclays: $3.2bn
Source: Bloomberg and company reports
It’s of no real surprise that there are such high losses in the US, since the downfall of the US economy which has, only just, managed to pull itself back up from the pit of a recession. The stats may be for the US but with the current way in which the UK is currently going, it might not be too long till a new list is published, similar to this but it says the UK losses instead.