<P><FONT face=宋体>想请教大家，new basel accord 里的 tier1 captial ， 包括实缴股本，公开准备金和保留盈余中的特别准备金。  其中“保留盈余中的特别准备金”是税前，还是税后呢？</FONT></P>
<P><FONT face=宋体>我在 Philippe Jorion 中文版《风险价值》里看到的是“税前保留盈余中的特别准备金”，但是我老师的课件里说明的却是税后： </FONT><SPAN style="FONT-FAMILY: 'Times New Roman'; %"><SPAN style="FONT-FAMILY: 'Times New Roman'; " lang=EN-GB><BR>    </SPAN>
<DIV vshape="_x0000_s1026"><SPAN style="FONT-FAMILY: 'Times New Roman'; " lang=EN-GB><B><I><FONT size=5 face=宋体>Tier 1 capital</FONT></I></B></SPAN><SPAN style="FONT-FAMILY: 'Times New Roman'; " lang=EN-GB><FONT size=5 face=宋体> (core capital): paid-up stock issues and disclosed cash reserves <FONT color=#d52b4d>(from after tax retained earnings).</FONT> Of the 8% capital charge, 50% must be covered by tier 1 capital.</FONT><BR>  </SPAN>
<DIV style="TEXT-ALIGN: justify; mso-line-spacing: '80 20 0'; mso-margin-left-alt: 468" class=O1><SPAN style="FONT-FAMILY: 'Times New Roman'; " lang=EN-GB></SPAN></DIV>
<DIV style="TEXT-ALIGN: justify; mso-line-spacing: '80 20 0'; mso-margin-left-alt: 468" class=O1>请高人指点迷津，谢谢！</DIV></DIV></SPAN>
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<DIV vshape="_x0000_s1026"><SPAN style="FONT-FAMILY: 'Times New Roman'; " lang=EN-GB><B><I><FONT size=5 face=宋体>Tier 1 capital</FONT></I></B></SPAN><SPAN style="FONT-FAMILY: 'Times New Roman'; " lang=EN-GB><FONT size=5 face=宋体> (core capital): paid-up stock issues and disclosed cash reserves <FONT color=#d52b4d>(from after tax retained earnings).</FONT> Of the 8% capital charge, 50% must be covered by tier 1 capital.</FONT><BR>  </SPAN>
<DIV style="TEXT-ALIGN: justify; mso-line-spacing: '80 20 0'; mso-margin-left-alt: 468" class=O1><SPAN style="FONT-FAMILY: 'Times New Roman'; " lang=EN-GB></SPAN></DIV>
<DIV style="TEXT-ALIGN: justify; mso-line-spacing: '80 20 0'; mso-margin-left-alt: 468" class=O1>请高人指点迷津，谢谢！</DIV></DIV>
<P align=right><FONT color=#000066>[此贴子已经被作者于2008-3-3 7:41:53编辑过]</FONT></P>