Genuity: RBC's Writedowns Could Double to > $3 Billion

Financial Post, Duncan Mavin, 10 July 2008Royal Bank of Canada's writedowns could double to more than $3-billion as ongoing deterioration in U. S. credit markets takes its toll on Canada's largest bank, a report warned yesterday.Worsening conditions in the United States may force RBC to take another $1.5-billion hit to add to the $1.6-billion in credit-crunch losses it has disclosed, said the