According to a recent estimation by IMF (International Monetary Fund), the banks and financial institutions face losses going up to 4.1 trillion dollars due to the current economic crisis. This information was released by IMF in its global financial stability report on Tuesday. According to the fund, the institutions will have to write down around $2.7 trillion in terms of loans and securities coming up in U.S. from 2007 to 2010.

The report also mentions that the presents crisis “is likely to be deep and long-lasting,”, while also highlighting that the conditions have become worse since its October report last year. The report mentions that the condition in Europe and emerging markets have become worse as compared to last year. It also mentioned that authorities have been quite proactive as they respond to the ongoing crisis. The IMF is surprised with the market optimism and has highlighted that though with few improvements in short –term liquidity conditions, a lot of other measures of instability have gone down to record levels.

IMF has been taking a leading role in fighting the crisis and has given loans worth $55 billion. Group of 20 nations have decided to give $1 trillion to the fund. The report also illustrates the uneven pace of the response to the crisis while reporting that the British banks are in better shape as compared to US banks.

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