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A former head of the nationalized Ashikaga Bank on Wednesday said ChuoAoyama Audit Corp.’s sudden decision not to count the bank’s deferred tax assets as part of its capital was to blame for the bank’s failure in December.

Yoshiaki Higano, former president of the Tochigi-based Ashikaga Bank, said the accounting firm told the bank on Nov. 27 that its deferred tax assets could not be counted as the bank’s capital for the half-year period ending last September.

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