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US bank gains from new tax law start with short-term Q4 red ink

The biggest banks will have to set aside multi-billion-dollar tax charges in order to reap the harvest of lower taxes in the long haul

New York

US BANK executives and investors expect a long-term boost from the new federal tax code, but the biggest lenders will first need to book multi-billion-dollar charges that will muddle fourth-quarter results.

Banks will adjust deferred tax assets and liabilities to account...