The estimates from Japan's Financial Services Agency (FSA) come after JPMorgan Chase & Co <JPM.N> said in a report late on Friday Wall Street banks are facing a "systemic margin call" that could deplete them of up to $325 billion in capital.
TOKYO (Reuters) - Subprime-related losses at global financial institutions have so far totaled as much as $215 billion, with about 55 percent of that coming from the United States, the head of Japan's financial regulator said on Monday.
The estimates from Japan's Financial Services Agency (FSA) come after JPMorgan Chase & Co <JPM.N> said in a report late on Friday Wall Street banks are facing a "systemic margin call" that could deplete them of up to $325 billion in capital.
European losses totaled about 8 trillion yen ($78.5 billion), while Asia and Canada together accounted for about 1.4 trillion, FSA Chairman Takafumi Sato told reporters at a regular briefing.
Japan's financial institutions have so far avoided the massive subprime losses taken by overseas rivals, but they have not escaped unscathed.
!ADVERTISEMENT!Subprime losses at Japanese banks more than doubled to 600 billion yen in the last quarter of last year, with total exposure to subprime investments hitting 1.5 trillion yen, the FSA said last month.
"Compared to overseas, Japan's subprime-related losses and exposure are relatively limited," Sato said.
(Reporting by Reiji Murai; Editing by David Holmes)
