ECB raises expectation for banks' losses in eurozone

12/21/2009 | Wall Street Journal, The

The European Central Bank said banks in the eurozone likely will face higher-than-expected losses. The ECB cited banks' exposure to commercial real estate and Eastern Europe as contributors. The ECB estimated total losses on all securities and loans at €553 billion for 2007 to 2010, although much of that has already been absorbed.

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