00:00, 30 May 2008 Page views 361 views

Crisis-Caused Banks’ Losses Can Reach 460 Billion Dollars

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According to Bloomberg, with reference to the report of the US Securities and Exchange Commission (SEC), the world banks have included over 35 billion dollars of their write-offs connected with the global financial crisis in their balance reports, instead of in the reports on profits and losses, thus «having hidden» them from the financial regulators. That means, that a liquidation of the credit and financial sector’s losses will require not 81 billion US dollars, as it was believed earlier, but almost a 100 % more – about 116 billion dollars.

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