Geithner faces criticism on bank tax

geithner-tim

US Treasury secretary Tim Geithner faced criticism over the Obama administration’s plan for a levy on banks at a hearing of the Senate Finance Committee on May 4.

The proposed levy, which would take effect from June 30 this year, is designed to recoup the cost of bailing out firms under the Troubled Asset Relief Program (Tarp). Firms covered by the charge would have to pay 0.15% of liabilities a year, excluding any Tier I capital, insurance reserves or federally insured bank deposits. It would

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: