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Rally in 'Toxic' Securities Set to Boost Banks

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"Wall Street executives and analysts say the significant rise in the price of mortgage-backed securities and other once-battered debt offers banks the first meaningful chance to “write up” some of the value of these distressed assets," the FT reports. "The extent of the write-ups is difficult to predict because of banks’ complex balance sheets and uneven use of accounting rules, but some experts believe the rallying credit markets could pave the way for billions of dollars in accounting gains."
SOURCE:   Financial Times

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