Citigroup CFO says U.S. tax rate cut could bring $4 billion charge

If federal corporate tax rates decline 20 percent under President-elect Donald Trump, Citigroup Inc may have to take a $4 billion charge to profits to reflect lower values for its deferred tax assets, the bank's chief financial officer said on Wednesday. After the U.S. election results last week were viewed by Wall Street as increasing the chances of lower tax rates, the KBW bank stock index climbed 13.6 percent through Tuesday while Citigroup shares rose 11.1 percent. Analysts have said that Ci