TAX NEWS - JUNE 2010

Banks' health more important than tax

A top European central banker said on Monday that it was more important for banks to have sufficient capital than to impose a tax on financial institutions.

The danger would be to weaken the strength of the bank's balance sheet, European Central Bank council member Christian Noyer told a conference in Montreal.

Noyer noted that his comments on Monday should not be taken as indication of policy decisions that will be taken at the European Central Bank governors' meeting later this month.