"The April 2009 Global Financial
Stability Report (GFSR) estimates write-downs on U.S.-originated assets
by all financial institutions over 2007–10 will be $2.7 trillion, up
from the estimate of $2.2 trillion in January 2009, largely as a result
of the worsening prospects for economic growth. Total expected
write-downs on global exposures are estimated at about $4 trillion, of
which two-thirds will fall on banks and the remainder on insurance
companies, pension funds, hedge funds, and other intermediaries."
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