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February 16, 2023

Wednesday, March 8 | Are you Pillar Two-ready? | Banking and Capital Markets: Current industry insights (11 am ET)

Please join us for an industry-focused discussion in which panelists will examine the latest guidance from the Organisation for Economic Co-operation and Development (OECD) on the BEPS 2.0 project as it relates to the banking and capital markets industry. We will explore the current legislative landscape as jurisdictions begin to release further guidance and draft legislation on the global minimum tax rules under Pillar Two of BEPS.

During this 60-minute webcast, Ernst & Young LLP professionals will discuss:

  • Treatment of non-refundable tax credits that flow through tax-transparent entities and arise from investments accounted for under the equity method of accounting
  • Classification of a permanent establishment (PE) under the Global Anti-Base Erosion (GloBE) rules, including the treatment of taxes incurred by a home office on a PE's income
  • Considerations around the treatment of certain foreign currency transactions, hedging arrangements and mark-to-market methods of accounting under the Pillar Two framework
  • General impact of the GloBE rules on certain regulatory requirements, including Comprehensive Capital Analysis and Review (CCAR) stress testing
  • Industry insights on country-by-country reporting (CbCR) in light of the OECD's recently proposed CbCR safe harbors under Pillar Two
  • Current and expected country-level Pillar Two legislation, with specific emphasis on banking and capital markets activity centers

Date: Wednesday, 8 March 2023

Time: 11:00 a.m.-12:00 p.m. ET New York; 10:00-11:00 a.m. CT Chicago; 8:00-9:00 a.m. PT Los Angeles

Registration: View archive here.


Doug Bailey, Financial Services International Corporate Tax Advisory Partner, Ernst & Young LLP (US)

Richard Milnes, Financial Services International Corporate Tax Advisory Partner, Ernst & Young LLP (UK)

Alice Lin, Financial Services Transfer Pricing Senior Manager, Ernst & Young LLP (US)

Marco Palumbo, Financial Services Tax Accounting and Risk Advisory Services Partner, Ernst & Young LLP (US)


Chris Housman, Financial Services International Tax and Transaction Services Leader, Ernst & Young LLP (US)

CPE credit offered: up to 1.2 depending on duration. Recommended field of study: Taxes. Learning objectives: Identify issues specific to the banking and capital markets industry on the GloBE rules under BEPS Pillar Two, assess CbCR reporting in light of the proposed Pillar Two CbCR transition rules, and recognize key aspects of the current legislative landscape globally as they relate to global adoption of the BEPS Pillar Two framework. This intermediate level, group internet-based course has no prerequisites or advanced preparation. Final CPE award to be based on content, polling and length of participation. See CPE FAQ for more information.

EY webcast managed and produced by Ernst & Young LLP's Tax Technical Knowledge Services Group, Washington, DC: Lynn Fairfax | and Barbara Kirchheimer |

Learn about and register for EY Tax webcasts

You can learn about and register for any EY Tax webcast here.