Banks (JPM) (C) (BAC) (GS) (MS) Facing Billions in Japan Exposure

The major banks in the U.S. are facing huge exposure to Japan, with overall exposure estimated to be at a minimum of $100 billion.

By far the bank with the most exposure is JPMorgan (NYSE:JPM), which has an estimated $53 billion to $54 billion they could lose, according to reports issued by Keefe, Bruyette & Wood analyst David Konrad and CLSA analysts Brian Waterhouse and Mike Mayo.

Next in line is Citigroup (NYSE:C), with about $39.2 billion at risk.

Konrad said, "Citi's Asia RCB had 711 retail branches, $105.6 billion in average deposits, $61.2 billion in retail banking loans and $20.4 billion in credit card outstanding loan balances."

Following Citigroup are Goldman Sachs (NYSE:GS) with $33.6 billion in losses at risk; Morgan Stanley (NYSE:MS) with $19.1; and Bank of America (NYSE:BAC) with $17 billion in exposure, for the most part in investment banking and wealth management, according to CLSA.

JPMorgan closed Tuesday at $44.61, down $0.69, or 1.52 percent. Citigroup closed at $4.44, down $0.10, or 2.20 percent. Goldman closed at $157.25, falling $1.18, or 0.74 percent. Morgan Stanley closed at $27.65, dropping $0.26, or 0.93 percent. Bank of America closed at $13.96, down $0.27, or 1.90 percent.