British Banks Facing Fresh Losses of Up to Pounds 70b ; Falling Commercial Property Value Blamed
Daily Post › December 30, 2008
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Summary
BRITISH banks could collectively face losses of up to pounds 70bn on loans they made on commercial property, it was reported today.
The massive write-downs could force some of the banks into a further round of taxpayer bail outs, according to a press report.See the full content of this document
Extract
British Banks Facing Fresh Losses of Up to Pounds 70b ; Falling Commercial Property Value Blamed
The potential size of the writedowns are based on forecasts by investment bank Close Brothers estimating that th...
See the full content of this document
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