Banks have ways around deferred tax crackdown
Get out of Basel free
Proposed rules that prevent lenders from counting deferred tax assets as capital seem alarming. In fact, most European banks should generate enough profit to use up their tax perks before they are abolished in 2012. The remaining few will have to hope that the reform is delayed.
This content is for Subscribers only
To access full Breakingviews.com content you must be a subscriber. Please use the following link to request a trial.