Politics & Government

March 9, 2009

Regulatory reports show 5 big banks face huge loss risk

Their latest financial reports show that Citibank, Bank of America, HSBC Bank USA, Wells Fargo Bank and J.P. Morgan Chase have "current" net loss risks from derivatives — insurance-like bets tied to a loan or other underlying asset — of $587 billion as of Dec. 31. That's more than the banks' combined $497 billion in so-called "risk-based capital," the assets they hold in reserve for disaster scenarios.

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