||Treasury Assets collapsing||Banking Books collapsing
||Trading Books collapsing|
|Bad debt provisioning insufficient to protect creditors and very growth expansionary
* lack of contingent liability assessment ("make good" clauses in securitisations).
|Fatalities (>100% of capital lost) |
Allied Irish Bank
Anglo Irish Bank
Bank of Ireland
Bradford & Bingley*
Cattles (non bank lender)
HBOS (Bank of Scotland)
London Scottish Bank
Near miss (rescued):
Alliance & Leicester plc
Dunfermline BS and several other building societies
|Mark to market gains covering up losses (Collateralised Debt Obligations), then met by mark to market downswing
||Most banks exposed. HSBC had MtM losses at one point approaching £20bn (these then substantially reversed).
||Fatalities (>100% of capital lost) ABN AMRO part of RBS Near miss: RBS (ex-ABN AMRO) Barclays
|Impact||Market rise and then panic. Regulatory forbearance needed. Tremendous market dislocation.
||Bankruptcy/nationalisation and/or forced dilution. Massive loss of capital and contraction. In case of RBS/Lloyds-HBOS/B&B/Northern Rock nationalisation. London Scottish in administration. Tremendous market dislocation.
|Auditors of failed banks||
||PWC Bank of Ireland, Cattles, Northern Rock KPMG Allied Irish, HBOS, London Scottish, Bradford & Bingley E&Y Anglo Irish
||E&Y Netherlands ABN AMRO|
|Auditors of "victim" banks/survivors (victim meaning acquired collapsing banks)
||KPMG HSBC||PWC Lloyds
||Deloitte RBS PWC Barclays