The Limited Times

Now you can see non-English news...

Banks: draft, instead of tax you can strengthen capital - News

2023-09-23T10:38:55.520Z

Highlights: Banks: draft, instead of tax you can strengthen capital. "In lieu of payment", banks will be able to allocate "to a non-distributable reserve an amount equal to two and a half times the tax" This buffer is counted "among the Common Equity Tier 1 items", i.e. it strengthens banks' capital base. The ceiling for the extraordinary tax on banks' extra profits rises from 0.1% to 0.26% "of the total amount of risk exposure on an individual basis"


"In lieu of payment", banks will be able to allocate "to a non-distributable reserve an amount equal to two and a half times the tax". (ANSA)


"In lieu of payment", banks will be able to allocate "to a non-distributable reserve an amount equal to two and a half times the tax". This buffer is counted "among the Common Equity Tier 1 items", i.e. it strengthens banks' capital base. This is what we read in the draft of the government's amendment that rewrites the rule on the extra profits of the banks, which should be deposited in the next few hours in the Senate.
The ceiling for the extraordinary tax on banks' extra profits rises from 0.1% to 0.26% "of the total amount of risk exposure on an individual basis" (no longer total assets, a clarification that therefore excludes government bonds). According to a draft of the amendment, the tax is also calculated "by applying a rate of 40% on the amount of the interest margin" of the 2023 financial year "which exceeds by at least 10% the same margin "of the 2021 financial year. The previous version was calculated differently on the 2022 budget (5% surplus) and on the 2023 budget (10% surplus)


All rights reserved © Copyright ANSA

Source: ansa

All life articles on 2023-09-23

Similar news:

You may like

News/Politics 2023-09-24T15:20:12.362Z
News/Politics 2023-09-23T13:48:45.701Z

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.