娘子，快出来看write down

anvil

JPMorgan Loses $1.5 Billion Since July on Falling Debt Prices

By Cathy Chan

Aug. 12 (Bloomberg) -- JPMorgan Chase & Co. will write down at least $1.5 billion this quarter because the continued disruption in credit and mortgage markets reduced the value of its debt portfolios, the bank said in a regulatory filing.

The New York-based investment bank said trading conditions ``have substantially deteriorated'' since July compared with the second quarter, and ``sharply widened'' spreads on mortgage- backed securities and loans caused the company to incur the losses, excluding hedges, the filing said.

JPMorgan, the second-biggest U.S. bank by market value, held $16.3 billion of legacy leveraged loans and unfunded commitments as of June 30, the filing said.

The bank also had $11.6 billion of commercial mortgage- backed securities, which could be ``adversely affected'' by further deterioration in the housing market, and the actions of distressed sellers, it said.

U.S. bondholders raised yields for financial companies to the highest relative to Treasury notes in at least a decade as bank losses and writedowns on debt securities reached almost $500 billion worldwide since the collapse of subprime mortgages last year.

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我本来还以为JP MORGAN会比较保守。。。。。。

黑山老妖

咦，又有write-down。
为什么，我要说这个“又”字呢？