State scheme to cost banks 10% of annual profits - IT

Why the confusion Emer, nobody believes a word that comes out of the regulator’s mouth. The regulator is nothing but a spokesperson for the banks, he has zero credibility.

So they’re going to be charged at least 10% of profits? That could be a rather low number.

What’s 10% of 0?

Do we have to pay the banks if they make a loss?

that would be net profit i assume and not gross.