The International Monetary Fund (IMF), Tuesday (8 / 4), assess that the global financial losses due to subprime crisis in the United States (U.S.) could reach U.S. $ 945 billion. The IMF in its report states the fall of housing prices in the United States (U.S.) and the increase in arrears on the mortgage market could trigger the loss of U.S. $ 565 billion. If combined with other categories of loans and securities in the U.S. related to commercial real estate, consumer and corporate credit markets, the overall potential losses of around U.S. $ 945 billion, the IMF said. "This crisis was spreading beyond the U.S. secondary mortgage market - namely to the primary mortgage market and commercial real estate, consumer credit and corporate credit markets to the low level," the IMF said in the release of "Global Financial Stability Report" in Washington. During the U.S. still remains the benchmark, the financial institutions in other countries also have been affected, as reflected in global financial conditions. That is the weakness of risk management systems and prudential supervision.

This is for the first time the multilateral institution to make an official estimate of global losses suffered by banks and other financial institutions because of credit squeeze that began eight months ago in the U.S., amid rising mortgage defaults mortgage medium or high risk. Estimated losses of U.S. $ 945 billion, which was surprising, made last March, representing nearly U.S. $ 142 per person worldwide and represents four per cent from U.S. $ 23.21 trillion credit market. IMF says global banks are likely to bear about half of the losses - at U.S. $ 440-510 billion. Last month, Standard & Poor's (S & P) estimates that global banks likely to erase the debt (write-off) of U.S. $ 285 billion in various securities related to real estate loans to U.S. medium, with more than half the losses already recognized. Some analysts have put a higher loss rate for secondary mortgage market and its relation."The indicators show a tightening of credit conditions in all economic activities," said Jaime Caruana, head of the Department of the IMF's Monetary and Exchange Market in a press conference.

Caruana claimed loss "indicates a potentially large impact on U.S. economic growth" and Europe will also tighten the requirements and lower loan growth under the influence of global financial tensions.