From 24/7 Wall Street:

The IMF issued its Global Financial System report and one of the most critical points of its analysis is that banks face another $1.5 trillion in writedowns. That is on top of the $1.3 trillion that they have already taken.

At the core of the IMF data is the fact that banks will have to raise more capital, perhaps hundreds of billions of dollars. That will be bad news for current equity holders in American financial firms who have seen the value of bank stocks rise two-fold or three-fold from March lows.

There may well be another large round of losses ahead., which could cause dilution and push financial firm shares down again.

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