The US banking sector could incur mark-to-market losses of as much as $60bn (€40.5bn) this year on commercial real estate and other exotic mortgage loans, types of debt financing that represent the highest risk to banks' earnings and capital, according to research from Goldman Sachs.

In a report published last week, Goldman credit analysts said total credit losses from commercial real estate, residential mortgages excluding high-risk sub-prime, and consumer and corporate loans will likely amount to $330bn. Total sub-prime related losses are expected to be $210bn.