Bank of Nova Scotia today announced that in its fourth quarter 2007 results there will be mark-to-market write-downs on non-Bank asset-backed commercial paper (ABCP) and structured credit instruments of approximately $190 million ($135 million after-tax).

Scotiabank also announced that as a result of the bank’s domestic and international interests in Visa Inc., it will record a gain of approximately $200 million pre-tax (approximately $160 million after-tax) in the fourth quarter ended October 31. Visa Inc. was formed as a result of a reorganization of Visa Canada, Visa USA and Visa International.

The amount of the gain was determined by an independent valuation of shares the bank received through participation in the Visa restructuring and the finalization of Scotiabank’s ownership percentage in Visa Inc., as at the restructuring date.

The bank’s fourth quarter and year-end results will be issued on December 6.