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However, this is but a "paper loss".
The paper loss on those purchases now exceeds $1 billion.
The bank takes this paper gain while the business owner takes the paper loss.
A year on, those shareholdings are creating a £4bn paper loss for the government.
He can also afford to take the paper loss on the chin.
The taxpayer has made a paper loss, so far, of £25bn.
This is not to say that the central banks would suffer only a paper loss.
Instead, Emulex soared, leaving him with a paper loss of almost $100,000 in just a week.
On Monday alone, the stock market drop represented a paper loss of $102 billion for Russian companies.
Nor is it the size of the paper loss in the stock market over the last 13 months.
That leaves them with a paper loss of about $1 billion, valuing the convertible securities at face value.
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