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BofA Sees $3.5 Billion Writedown at Merrill, $7 Billin at UBS

(Reuters) - Banc of America Securities expects Merrill
Lynch & Co Inc <MER.N> and UBS AG <UBSN.VX> to write down $3.5
billion and $7 billion respectively in the second quarter and
forecast a quarterly loss for the investment banks.

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