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- HSBC Holdings PLC, Europe's largest bank by market value, said Monday it had been forced to write down the value of its assets by $4.9 billion in the third quarter, as the cost of bad loans in the U.S. continued to mount and the credit market faltered. In the U.S., loan impairments largely resulting from HSBC's big holdings of subprime mortgage debt cost the bank $4.3 billion during the third ...
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