The hottest loan crisis, global banks lost more th
2022-10-01- Detail
Loan crisis: global banks lost more than $500billion
(new thermoplastic materials appeared at the battery exhibition, China industry news: Li Rong) the U.S. subprime mortgage crisis and the ensuing credit crunch continued to ferment, asset writedowns affected more product categories, and global banking losses continued to expand like a snowball, which has now exceeded $500billion at one stroke
UBS released its second quarter financial report on August 12, announcing a further write down of $6billion on its subprime mortgage related assets. So far, since the outbreak of the subprime mortgage crisis at the beginning of last year, the total amount of asset write downs and credit losses suffered by more than 100 largest banks and securities companies in the world has exceeded $500billion
the International Monetary Fund took the lead in issuing a report in April this year, predicting that the subprime loan losses of the global banking industry are expected to be around us $510billion. The International Monetary Fund also predicted that all industry institutions are expected to lose $1trillion in this round of credit turmoil
with the expansion of the investigation scope of "fraudulent" transactions by U.S. regulators and prosecutors, forcing banks to repurchase auction rate securities, which was once considered a safe investment, has also begun to worsen credit losses. UBS immediately announced that it would set aside $900million in the second quarter to cover possible losses on repurchases of auction rate securities. At the same time, some manufacturers of Citigroup and Wachovia pointed out that the bank is expected to lose $500million respectively
according to statistics, the global banking industry and brokers have raised about $353billion to offset losses. Therefore, there is still a gap of $148billion between losses and capital injection. With the installation of financial machines, we also need to pay attention to many problems. Many products need to test the finished products. After asset write downs, institutions announce corresponding financing measures. This gap will usually narrow and remain at about $80billion
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