Citigroup CFO Sees $20B Hit If Senate Tax Bill Passes

The video discusses the concept of deferred tax assets, focusing on Citigroup's financial history and its significant tax loss carryforwards from 2008 and 2009. These losses have been used to offset future income taxes, making them valuable assets. However, proposed corporate tax reforms could reduce the value of these assets, impacting Citigroup's financial strategy. The video also compares Citigroup's situation with other banks like JP Morgan, highlighting differences in domestic banking operations and the varying impacts of tax reforms.

In what way does Citigroup's deferred tax asset differ from that of JP Morgan?

Why might Citigroup benefit less from tax reform compared to other banks?