WASHINGTON (AFP) - World finance giants Monday revealed they need tens of billions more dollars as the shockwaves from the credit crisis spread, with markets trembling at massive losses by titans AIG and HSBC. US insurer AIG revealed the biggest quarterly loss in US corporate history for the last three months of 2008 - a staggering 61.7 billion dollars (49.1 billion euros) that prompted the government to step in and promise more money. The company said it had been hit by "severe credit market deterioration" and warned of "continued turbulence in the markets generally." The Treasury Department and Federal Reserve reacted by saying they would provide AIG, which has already been partly nationalized in a rescue worth more than 150 billion dollars, with another 30 billion. "Given the systemic risk AIG continues to pose and the fragility of markets today, the potential cost to the economy and the taxpayer of government inaction would be extremely high," they said in a statement. Giant US mortgage lender Freddie Mac, taken over by the government in September, confirmed its announcement made last month that it would seek up to 35 billion more dollars from the Treasury to prevent collapse. The funds would come from a 200-billion-dollar line of credit already set up with the Treasury. London-based bank HSBC said it would have to raise 12.5 billion pounds (17.6 billion dollars, 14.0 billion euros) in the biggest-ever British rights issue after a 70-percent slump in profits in 2008 and a sharp spike in bad debts. "After talk of the need for raising cash was dismissed as recently as December last year, this is a rather large slice of humble pie," said Martin Slaney, head of derivatives at GFT traders in London. "Investors will wonder why such a supposedly well-capitalized bank is slashing the dividend and choosing to raise more cash of record-breaking proportions." HSBC had been regarded as one of the more robust global banks and has refused British government financial assistance in contrast to some of its rivals.