NEW YORK ( TheStreet) -- Big banks, led by Bank of America (BAC) - Get Report and JPMorgan Chase (JPM) - Get Report , have paid a total of $184 billion in fines since 2009 over 117 cases. But they are still on the hook for another 174 cases, according to a report published Friday by Keefe, Bruyette & Woods analysts Brian Gardner and Fred Cannon.

The fines encompass both government and private settlements of at least $100 million and include 43 banks in total around the world, as well as two non-banks: the Carlyle Group (CG) - Get Report and AIG (AIG) - Get Report .

KBW published the report to accompany what it called the first edition of its KBW Bank Litigation Tracker.

"For comparative purposes, an economy with a GDP of $184 billion would, according to the World Bank, rank 54th globally, or roughly the size of New Zealand. With 174 cases still ongoing, we expect the issue of monetary penalties to persist," the analysts wrote.

Bank of America has paid the most in fines -- a total of nearly $58 billion so far over 24 settlements. It is followed by JPMorgan, which has settled 15 cases worth more than $31 billion. Wells Fargo (WFC) - Get Report has settled 10 cases worth nearly $14 billion and Citigroup (C) - Get Report has signed 12 settlements for close to $13 billion. In fifth place is BNP Paribas (BNPQY) , which paid just one settlement worth $8.9 billion for conducting business in Sudan, Iran and Cuba in violation of U.S. sanctions against those countries.

Many of the largest settlements are tied to mortgages, which is the reason Bank of America's fines are so high. Countrywide, which Bank of America acquired in mid-2008, was the most prolific originator of problem mortgages prior to the financial crisis that ravaged global markets beginning in September 2008.

Still, a new chapter in the bank fine saga appeared to be just beginning, when, earlier this week, several banks were handed more than $4 billion in fines by U.S. and British regulators in investigations that are still ongoing.

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