TITLE

Tax Aims at Big Banks But Could Hit Others

AUTHOR(S)
Hopkins, Cheyenne; Adler, Joe; Fajt, Marissa
PUB. DATE
January 2010
SOURCE
American Banker;1/20/2010, Vol. 175 Issue 10, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article examines a tax on large banks proposed by U.S. President Barack Obama to recover losses of the Troubled Asset Relief Program (TARP). Bank deposits are not counted as bank assets for the purposes of the tax. This could prompt large banks to offer higher interest rates on deposits to increase them, hurting smaller banks which are more dependent on deposits as a source of capital.
ACCESSION #
47665897

 

Related Articles

  • Bank Tax Plan Draws Ire of House GOP. Kaper, Stacy // American Banker;1/13/2010, Vol. 175 Issue 7, p3 

    The author reports that U.S. House Republicans oppose a bank tax proposal by the administration of President Barack Obama. The plan is designed to recoup taxpayer monies used to bail out the financial industry. Republican members of the House Financial Services Committee feel the proposal runs...

  • Big Obama Tax Hits Seen for Europe.  // American Banker;1/19/2010, Vol. 175 Issue 9, p13 

    The article reports that financial analysts believe that Barclays PLC and Royal Bank of Scotland would be the two European banks most affected by a tax on large banks proposed by U.S. President Barack Obama. The tax is to be used to recover the costs of the U.S. Troubled Assets Relief Program,...

  • Mass. Upset Could Mean Curtains for Obama's Tax. Kaper, Stacy // American Banker;1/21/2010, Vol. 175 Issue 11, p1 

    The article reports that the victory of Republican Scott Brown in a U.S. Senate special election in Massachusetts could block legislation proposed by President Barack Obama to place a tax on banks which received funds from the Troubled Asset Relief Program (TARP) bailout. Brown's election gives...

  • THE IMPACT OF FINANCIAL LIBERALIZATION ON THE PERFORMANCE OF BANKS IN ROMANIA. Andries, Alin Marius; Asandului, Mircea // Metalurgia International;Nov2010, Vol. 15 Issue 11, p97 

    In this article we analyze the impact of financial liberalization on banking performances, highlighting the determination of the impact of the presence of foreign banks in the Romanian banking system on the performance of the banking sector. The analysis reveals the fact that the liberalization...

  • Richmond Fed Exec Hits Bank Tax Idea.  // American Banker;1/19/2010, Vol. 175 Issue 9, p12 

    The article reports that Jeffrey Lacker, President of the Federal Reserve Bank of Richmond, expressed opposition to a proposal by U.S. President Barack Obama to tax large and highly-leveraged banks. The proposal is designed to recover the funds lost during the Troubled Asset Relief Program...

  • AN EMPIRICAL ANALYSIS OF THE IMPACT OF BRANCHING ON DEMAND DEPOSIT VARIABILITY. Anderson, R. N.; Haslern, John A.; Leonard, John B. // Journal of Financial & Quantitative Analysis;Sep76, Vol. 11 Issue 3, p455 

    Over the years, a reasonable amount of research has been devoted to the causes of deposit variability among commercial banks. Several of the findings are summarized by Kaufman. He notes that deposit variability is an important issue to individual banks, the Federal Reserve, and the public....

  • The N-Word.  // New Republic;2/18/2009, Vol. 240 Issue 2, p1 

    The article discusses the possibility that the U.S. government under U.S. President Barack Obama may have to nationalize the U.S. banking system because of the size of the industry's bad assets which could be as great as $4 trillion, making the 2009 economic stimulus plan just a stop-gap measure...

  • Leading U.S. Banks Losing Asset and Deposit Share . WEIL, DAN // American Banker;9/16/1999, Vol. 164 Issue 178, p5 

    Cites the results of a study showing decline in the share of total assets and deposits held by the top 100 banking companies in the United States in the first six months of 1999. Banks' use of financial engineering techniques to eliminate thin-prized assets; Efforts to improve returns and...

  • BORROWED RESERVES AND BANK EXPANSION. Bradford, Frederick A. // Quarterly Journal of Economics;Nov28, Vol. 43 Issue 1, p179 

    Comments on J.S. Lawrence's paper on borrowed reserves and bank expansion. Failure to consider distinction made by Phillips between primary and derivative deposits; Question regarding the desirability of the term derivative deposits; Difference between borrowed reserves and deposits of checks...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics