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WORLD / Bank Writedown |
Writedown warning for UBS(Agencies)
Updated: 2007-10-30 14:21
UBS AG, Europe's largest bank by assets, said that difficulties in the US subprime housing market may lead to further writedowns. The Zurich-based bank, which reports its third-quarter earnings tomorrow, said yesterday that it's still exposed to "further deterioration in the US housing and mortgage markets as well as rating downgrades" on mortgage-related securities. |
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