Subprime write-offs listed by bank

Here is a quick list of major banks in the United States and the amount of subprime bad debt write-offs associated with each, shown from most to least:

HSBC – $10.6 billion (as of February 2007)
Merrill Lynch – $7.9 billion
Citigroup – $3.2 billion
JPMorgan – $1.7 billion
Goldman Sachs – $1.5 billion
Bank of America – $1.4 billion
Wachovia – $1.3 billion
Morgan Stanley – $940 million
Lehman – $700 million
Bear Sterns – $700 million

(HSBC was the first banking group to reveal, in February this year, that it would pay a hefty price for having entered the U.S. subprime mortgage market – more than $10 billion in write-offs for bad loans.) [ see more ]

This list is based on approximations and information released to the public. Some SEC data was used. Regard this in the same manner as a forward looking statement if you will. Losses spread to title insurers, mortgage insurers, international investors, and hedge funds.