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Industry News & TrendsUBS Projecting More Huge Write-Downs, RecapitalizationUBS Projecting More Huge Write-Downs, Recapitalization
UBS announced today that the firm plans to write-down another $19 billion in housing-related credit securities held on its books by the end of the first quarter, bringing the firm's total sub-prime losses to $37 billion thus far. As a result, the firm says it will sustain a $12 billion quarterly loss.