Fitch: Most subprime-related bank losses are already disclosed
Fitch Ratings says global banks have already written down more than 80% of their losses from subprime mortgage assets. In a special report published today, the agency estimates total market losses from subprime mortgage assets at USD400bn, though estimates may be as high as USD550bn, depending on the method of calculation used.
Approximately 50% of these losses, USD200bn-USD275bn, are held by banks, with the remainder held by financial guarantors, insurance companies, asset managers and hedge funds.