Morgan Stanley’s analysts have been trying to put some numbers on potential litigation expenses for large-cap US and European banks this year. The large banks it covers have already paid out around $230 billion in litigation since 2009, with Bank of America leading the way at an eye-watering $64.7 billion paid and $3.5 billion still reserved, in front of JPMorgan, which has paid $40 billion with another $6 billion still reserved.
The good news is that the worst might be behind them, particularly for the top five US banks, which have already paid the best part of $130 billion.
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