WASHINGTON -- With losses on bad U.S. assets alone expected to top $1.4 trillion, the International Monetary Fund urged global policy makers to coordinate a response to the spreading financial crisis.

The latest estimate of losses in the IMF's Global Financial Stability Report is well above the IMF's April prediction of $945 billion, which some economists considered high at the time. It also tops the $1.3 trillion forecast given by Managing Director Dominique Strauss-Kahn two weeks ago.

"With...