LONDON (MarketWatch) — Swiss bank UBS AG UBS 45.24, +1.56, +3.6%) is expected to post more than $5 billion of debt-related write-downs in the fourth quarter, the Sunday Express said, quoting insiders at the bank.

CreditSights earlier this month said the bank had taken a $9 billion hit on collateralized debt obligations, but the bank has said it will write down the value of the debts only gradually.

UBS couldn’t immediately be reached for comment.