Financial Times FT.com

Bank distress worries return to haunt UK

By Jane Croft, Retail Banking Correspondent

Published: July 29 2008 19:19 | Last updated: July 29 2008 19:19

Investors had been hoping the days of huge writedowns on toxic US subprime mortgage assets were largely over for UK banks.

So suggestions that the dramatic writedowns taken by Merrill Lynch, the US investment bank, could cause further pain for British banks has been greeted with concern in the market.

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