banks' CDO loss will amount to 253 (Bloomberg)

--Collateralized debt obligations willcost banks $253 billion in writedowns, according to the marketvalue of the lenders, Bank of America Corp. analysts said. --The writedowns account for 87 percent of the $292 billion of CDOs created by firms such as Citigroup Inc., UBS AG and MerrillLynch & Co. The securities package debt including mortgage-backedsecurities and use the income to pay investors. --The world's biggest banks and securities firms havedisclosed about $45 billion in writedowns and loan losses becauseof the turmoil in the subprime mortgage market. Total losses fromthe falling value of securities linked to home loans may reach asmuch as $400 billion worldwide, Deutsche Bank AG analysts said