Losses and writedowns at the world’s biggest banks and securities firms total $97 billion this year, according to data compiled by Bloomberg. Citigroup Inc., JPMorgan Chase & Co. and Merrill Lynch & Co. may write down an additional $34 billion in securities linked to the collapse of the subprime mortgage market, according to Goldman Sachs Group Inc. Analyst William Tanona estimates an additional Q4 writedown for Citi of $18.7bn.

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