Credit Suisse Sees $2.3 Billion Hit From Tax Overhaul

Swiss bank Credit Suisse Group AG said that it expects to write-down 2.3 billion francs ($2.3 billion) in tax-deferred assets this quarter as a result of the signing of a sweeping U.S. tax overhaul. The write-down is a one-time accounting adjustment and has minimal impact on the bank’s strong regulatory capital position, the bank says.

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By Blackstone, Brian, posted on Friday December 22, 2017
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