International Bank Tax Newsletter Volume 1, May 2013

International Bank Tax Newsletter Volume 1, May 2013

This newsletter is intended to provide an introduction to the issues on accounting for income taxes under the Notice of Proposed Rulemaking issued jointly by the Federal Reserve, the Comptroller of the Currency, and the FDIC in June 20121 regarding the implementation of the Basel III standards on capital in the United States.

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Summary Accounting for Income Taxes Under the Notice of Proposed Rulemaking on the Implementation of Basel III Capital Standards in the United States

This detailed summary is intended to provide an introduction to the issues on accounting for income taxes under the Notice of Proposed Rulemaking issued jointly by the Federal Reserve, the Comptroller of the Currency, and the FDIC in June 20121 regarding the implementation of the Basel III standards on capital in the United States. While home country regulators will set the standards for the implementation of Basel III rules in the different jurisdictions, there should be symmetry among the United States and other country regulators in implementing Basel III standards. The rules are still in development, and there are many unanswered questions raised about how the proposed provisions are intended to apply.

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