Dexia, the ailing Franco-Belgian lender, has announced one-off losses of €6.3 billion in the third quarter, linked to the emergency nationalisation of its Belgian unit and the fall in value of its holdings of euro zone sovereign bonds.

The bank has also cleared the way for a capital injection of up to €4.2 billion for Dexia Credit Local, its municipal lending unit. Dexia was bailed out last month by the French, Belgian and Luxembourg governments after it was no longer able to finance itself on wholesale financing markets. – (Copyright The Financial Times Limited 2011)