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Spain in talks with banks over deferred tax assets

Source: Reuters - Tue 9th Jul 2013
Spain in talks with banks over deferred tax assets

The Bank of Spain and Spanish lenders are in talks to soften the impact of Basel III capital rules over how they account for deferred tax assets (DTAs) in their capital base, the governor of the central bank Luis Maria Linde said on Tuesday.

Linde said he could see a positive outcome of these talks for the banks with no impact on the country's sovereign debt. DTAs occur when a bank makes losses that it can offset against future tax bills when it returns to profitability.