Total write-downs of German banks have so far accumulated to roughly $ 98.9 billion during the financial crisis. And further losses, especially in the form of write-downs on loans, are still to be expected. Those losses are mainly straining the financial institutions themselves, necessitating huge consolidation efforts.
See, eg Cecchetti, S G (1999), p 11, and McCauley, R N and W R White (1997), p 3. 3  BIS Review 81/2000  Both predicitions might be considered to have proved correct in different market segments.