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

NEW YORK (Reuters) – 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.
However, a charge of that size and nature would not hurt the amount of capital that Citigroup reports to regulators under rules designed to ensure the soundness of banks, CFO John Gerspach said at an investor co