Yugoslavia's central bank said on Feb. 2, 2001, the heavily-indebted banking sector had more than 10 billion German marks ($4.81 billion) in accumulated uncovered losses, the equivalent of some 40 percent of the country's gross domestic product. "Total uncovered losses, excluding the debt for (frozen) hard currency savings, is 10.4 billion German marks," central bank governor Mladjan Dinkic told a news conference.

Commercial banks, for decades controlled or influenced by the state, owe together