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ISTANBUL, Turkey: Likely losses from the financial crisis in the three years to 2010 have been reduced by $600 billion to $3.4 trillion as the world economy grows faster than previously expected, the International Monetary Fund said Wednesday.
LONDON (AP) - The Bank of England warned Friday that Britain's banks are far from getting a clean bill of health despite signs of improvement in the economy and in financial markets - and said that no bank should be too big to fail.
Losses at financial institutions could approach US$4.1 trillion worldwide, the International Monetary Fund said Tuesday as it urged countries to take bolder action to bolster banks or risk an even deeper recession.
Global intervention should steady the banking system but it will also put big constraints on banks, the Bank of England (BoE) said yesterday, six months after it said it expected confidence to return to financial markets.
The International Monetary Fund (IMF) estimates that losses on US-based loans and securities may rise to some US$1.4 trillion-a significant increase from the estimate of US$945 billion in the April 2008 GFSR.