US banks to reveal additional sub-prime write-downs
US investment banks, Citigroup and Merrill Lynch, are to announce further sub-prime write-downs totalling $15 billion (£7.6 billion).Citigroup is expected to take a $10 billion hit to its accounts which will take the bank to a first-quarter loss of nearly $3 billion. Many analysts believe Citigroup’s write-downs could reach as high as $12 billion. Merrill [...]
US banks to reveal additional sub-prime write-downs
