The U.K. Treasury said coupon payments on Tier 2 capital that banks are required to hold can be offset against corporation tax.
Treasury Minister Greg Clark said the treatment of the coupon clarified uncertainty created by the Capital Requirements Directive IV. He made the comments in a written statement to Parliament in London today.
To contact the reporter on this story: Gonzalo Vina in London at firstname.lastname@example.org
To contact the editor responsible for this story: James Hertling at email@example.com