Credit Analysts Expect Total Losses for Legacy MBS on Banks’ Books to Reach $260 Billion
August 14, 2009
Despite signs of a stabilizing economy and government intervention programs taking hold, expected losses on toxic mortgage securities that are still on banks’ books continue to climb, according to analysts. In its latest update on the performance of legacy mortgage securities still carried by U.S. banks, Standard & Poor’s concluded that total losses on the banks’ MBS portfolios are still...