2/15/2008

Investors braced for even more writedowns as Swiss bank UBS revealed tens of billions of dollars in new exposure to risky US mortgages, leveraged finance and complex securities. The bank's exposure included $26.6 billion in US mortgages that were not subprime loans. Deutsche Bank estimated UBS's total exposure to risky US mortgages was $68.7 billion. UBS took $18.1 billion in writedowns in the second half of 2007 for its subprime-related exposure.

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