Banks--- Betting on the recovery Message Board

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Non-Tech : Banks--- Betting on the recovery

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From: David C. Burns	9/6/2010 2:41:50 PM
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Citi under fire over deferred tax assets By Francesco Guerrera and Jean Eaglesham in New York Published: September 6 2010 19:03 Citigroup is at the centre of a dispute among analysts and accounting experts over whether it should set aside funds to cover $50bn of deferred taxes, a move that would reduce its capital buffer and weaken its balance sheet. The assets, a product of the accounting principles applied by US tax authorities to companies, are crucial to Citi’s financial health. At the end of the second quarter, deferred tax assets made up more than a third of Citi’s tangible equity – a measure of balance sheet strength. ft.com

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