Wachovia reports extra $1.1bn in writedowns

- By Risk Staff
- 01 Dec 2007

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

Wachovia has announced $1.1 billion in writedowns for the month of October, as the bank's holdings in CDOs and mortgage-backed securities continue to lose value.

In a filing to the Securities and Exchange Commission, America's fourth-largest bank declared that, in addition to last month's report of third-quarter market disruption-related losses totalling $1.3 billion, the firm has had to write off almost the same amount again due to the depreciation of CDOs and MBS exposed to subprime mortgages.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to print this content. Please contact info@risk.net to find out more.

You are currently unable to copy this content. Please contact info@risk.net to find out more.

You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email info@risk.net

You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email info@risk.net