Example
On February 27, 2009, the U.S. Government converted preferred shares to common shares in order to increase Citigroup's tangible common equity. In this example, preferred stock equity is decreased, and total equity remains the same, increasing the TCE.
Read more about this topic: Tangible Common Equity
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“Our intellect is not the most subtle, the most powerful, the most appropriate, instrument for revealing the truth. It is life that, little by little, example by example, permits us to see that what is most important to our heart, or to our mind, is learned not by reasoning but through other agencies. Then it is that the intellect, observing their superiority, abdicates its control to them upon reasoned grounds and agrees to become their collaborator and lackey.”
—Marcel Proust (1871–1922)