Jolted by sharply rising rates, Banc One Corp. on Monday said it would take a fourth-quarter after-tax charge of up to $235 million, or 58 cents a share, mostly for losses on sales of securities.

The $88.2 billion-asset banking company said it incurred an after-tax loss of $170 million on the sale of $5.7 billion worth of fixed-rate securities. Cost-cutting moves will prompt up to $65 million of additional after-tax charges, Banc One said.

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