Another US financial institution has given details of further losses from recent turmoil in the credit markets.
Wachovia, the fourth-largest US bank, said it had incurred about $1.1 billion of further losses in October arising from credit market problems.
Big financial institutions have been suffering losses because some of their funds are linked to sub-prime, or risky, US mortgages.
The company said the pre-tax value of its asset-backed securities collateralised debt obligations declined by that amount in October. It took a $1.3 billion write-down from the turmoil in the third quarter.
