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’Recapturing the losses of the crisis
Deferred tax assets are a favourite of FT Alphaville’s. Some banks made such awful losses during the crisis they opted to store the losses on balance sheets for a sunny day when they started making profits again.
Blood from an EBA stress test stone
For now, the European Banking Authority’s 2011 stress tests are a starting point to determine the potential bill for recapitalising euro banks for their sovereign exposure. Most analyst estimates of capital needs — those big juicy €100bn,
Mirror, mirror on the wall, who has the highest DTAs of all?
Deferred Tax Assets (DTAs) have been mentioned (usually critically) on this blog many times before. Put very simply, they are tax carryforwards that can be included in banks’ Core Tier 1 capital ratios.
New strategy – AIG will buy European junk instead of its own
AIG is back on Wall Street.
Fresh from failing to acquire its own portfolio of dodgy deals from the Federal Reserve — AIG’s Mortgage-Backed Securities (MBS) were acquired by the US central bank during
Ambac in critical condition
Ambac to the … umm … Earth’s core:
Shares in the troubled bond insurer dropped 40 per cent on Monday after the firm said it had decided not to make a scheduled interest rate payment due this November 1st.
Mike Mayo’s Citi DTAaaaaaaattaaaaack!
Where oh where, did the Mike Mayo vs Citigroup dispute begin?
The CLSA bank analyst hit headlines last week after Fox Business News revealed Mayo had been “frozen out” by Citi. The reason? None other than Citi’s infamous deferred tax assets (DTAs) :
The DTA dodge
Are you a bank with a Deferred Tax Asset (DTA) problem?
As you may be aware, regulators want to ban the use of DTAs, portions of which can currently be included in Tier 1, from future regulatory capital.
How the IRS sort-of-saved Citi
Who says the IRS isn’t, umm, understanding?
The US tax authority exempted the Citigroup, and some other bailed-out companies, from rules which would otherwise have led to the troubled bank losing $38bn worth of tax credits.
The Deferred Tax Asset disaster
Does anyone remember Deferred Tax Assets?
Banks like Citi used to be (and in fact, still are) stuffed with them. In fact the assets have become a point of contention over the past year and a half, as regulators,