http://news.bbc.co.uk/1/hi/business/7093464.stm
Bank of America has revealed that it will have to write off $3bn caused by exposure to bad mortgage-related debt.
The US bank said the loss will dent its fourth quarter earnings, but added that it was "manageable".
It also said it expects to set aside $300m to cover further housing-related losses.
Bank of America is the latest bank to reveal heavy losses as a result of investments linked to the crisis-hit US sub-prime home loans market.
I bet this is the tip of the iceberg.
Bank of America has revealed that it will have to write off $3bn caused by exposure to bad mortgage-related debt.
The US bank said the loss will dent its fourth quarter earnings, but added that it was "manageable".
It also said it expects to set aside $300m to cover further housing-related losses.
Bank of America is the latest bank to reveal heavy losses as a result of investments linked to the crisis-hit US sub-prime home loans market.
I bet this is the tip of the iceberg.
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