U.S. banks will foot a $2B bill in their Q2 results to pay for the U.K. tax on bankers’ bonuses,...

|By:, SA News Editor
U.S. banks will foot a $2B bill in their Q2 results to pay for the U.K. tax on bankers’ bonuses, a charge that could significantly reduce earnings at some major financial groups, FT reports. Analysts say the tax will be a negative factor when banks report results for the April-June period, reducing EPS at Citigroup (C), JPMorgan (JPM) and BofA (BAC) by 10% or more.