Tax Aims at Big Banks But Could Hit Others

Hopkins, Cheyenne; Adler, Joe; Fajt, Marissa
January 2010
American Banker;1/20/2010, Vol. 175 Issue 10, p1
Trade Publication
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.


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