Banks crash trust preferred party

Article Abstract:

Banks have issued over $10 billion of trust preferred securities following the Federal Reserve Board decision that allows such securities to count as Tier 1 equity capital. This allows banks to meet the federal-required levels of capitalization. Trust preferred securities are a variation on monthly income preferred shares which, since they are taxed like debt and are accounted for as equity, are a favorite among issuers. However, as Pres Clinton prepares his budget proposal and as Congress begins a crackdown on corporate welfare issues, some believe that the tax deduction could end after Feb. 1997.

Public Finance Activities, Corporate Tax Deductions & Exemptions, Trading Regulations, Analysis, Taxation, Corporate taxes, Tax deductions, Securities law, Preferred stocks, Securities trading

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Techie rescue

Article Abstract:

Nasdaq Stock Market Pres. Alfred R. Berkeley III has been tasked to implement new Securities and Exchange Commission (SEC) rules involving the restructure of the trading market's software. The new rules aim to eliminate Nasdaq's dubious practice of overcharging individual investors in favor of institutions. Berkeley is also tasked to retain existing firms and lure corporate treasurers who want to take their companies public.

Securities and Commodity Exchanges, Security and commodity exchanges, Commodity Exchanges, Officials and employees, Nasdaq Stock Market Inc., Berkeley, Alfred R., III

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Haranguing on hedger's behalf

Article Abstract:

Legislation introduced by Lauch Faircloth would seek to exempt banks from the Financial Accounting Standard Board's (FASB) plan to audit and account for derivatives profits. The legislation seeks to offer banks tax relief from profits made from derivatives use and derivatives users have hailed the bill as a positive step towards making the FASB reconsider its plan for the purpose of making it acceptable to all concerned.

Financial Regulation NEC, Laws, regulations and rules, Financial services, Column, Accounting and auditing, Accounting, Derivatives (Financial instruments), Commercial law, Faircloth, Lauch

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