12:43 PM EST - The National Bank : expects to suffer the domestic industry's biggest losses on non-bank asset-backed commercial paper - $575 million. The writedown, worth $365 million after tax, will be recorded in the fourth quarter ended Oct. 31, the bank said. National Bank said it bought $2.1 billion worth of ABCP during the quarter, mostly from its own mutual funds and retail clients, on top of $150 million it already held. The National Bank
shares T.NA are trading up 33 cents at $51.36.
