UBS says that global banks may face another $208 billion in write-downs. The banks are at risk due to issues that could cause the failure of bond insurance companies.

“Banks have made progress in credit-market related writedowns,” London-based UBS analyst Philip Finch said in a note to investors today. “But more are expected,” he added according to Bloomberg

It will be interesting to see how accurate the forecast is.

Douglas A. McIntyre