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It now expects losses on these tranches to be "immense".The super senior tranches did have some attractions for banks.
UTV Media has said it expects losses at its newest TV channel, UTV Ireland, to hit £6m this year, double its original forecast.
Its latest report shows that its capital is gone and that it expects losses on two-thirds of its construction loans.
UTV Media has said that it expects losses at its new channel, UTV Ireland, to balloon to £8.5m this year, almost triple its original forecast.
Lloyd's of London expects losses related to Hurricane Katrina to amount to £1.4 billion ($2.55 billion), making it the insurance market's costliest natural catastrophe in the past decade.
Volkswagen, Europe's largest carmaker, expects losses in the United States at least through 2006 because of pricing pressures and a weak dollar.
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Dec. 23: Johnson Controls expects loss in final quarter of 2008.
Traders had been expecting losses on Monday for a number of reasons.
Serco is expecting losses of £115m, and G4S £25m, by the time the contracts finish in 2019.
Chile's wine producers would expect losses of about 40%, the study found.
Financial analysts expect losses to grow this year before falling in each of the next two fiscal years.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com