Financial Times: UBS to reveal further writedowns of up to $18bn

Update: According to the Financial Times, the latest writedowns are expected to be released Tuesday or Wednesday (hat tip sk)

From the Financial Times: UBS set for further writedowns (hat tip crispy&cole)

UBS is poised to reveal further writedowns of up to $18bn and seek a capital increase of about SFr13bn ($13.1bn) ...

Details of the latest writedowns and capital-raising are expected to be released alongside the agenda for the bank’s annual meeting on April 23, which is to be published on Tuesday or on Wednesday.

Just a reminder that the confessional is still open, and the numbers will be huge.