Nov. 9, 2015, 4:24 AM
- The Financial Stability Board has published new rules that aim to stop banks from becoming "too big to fail," confirming its final proposals for Total Loss Absorbing Capacity, or TLAC.
- Under the plan, large lenders will have by January 2019 to hold a financial cushion of at least 16% of their risk-weighted assets in equity and debt that can be written off. That requirement will gradually increase, reaching 18% of assets weighted by risk by January 2022.
- The FSB will put the rules, which will apply to the world's top 30 banks, to the G20 later this month.
Apr. 27, 2015, 4:36 AM
- Royal Bank of Scotland (NYSE:RBS) has sold another portfolio of North American loans to Mizuho Financial Group (NYSE:MFG), as it continues to sell off international assets to focus on domestic lending.
- The agreement swaps $5.6B of loan commitments for $500M in cash, generating an overall disposal loss of around $30M.
- Back in February, RBS agreed to sell different U.S. and Canadian loan commitments to Mizuho under a deal worth $3B, marking the largest move overseas by one of Japan's top banks.
Apr. 6, 2015, 7:31 AM
- With Royal Bank of Scotland scaling back U.S. operations (among others), Mizuho (NYSE:MFG) is in talks to take on 130-200 of the bank's employees here, reports Bloomberg.
- The hirings come as Mizuho - looking to gain access to corporate clients in North America - is set to pay about $3B for a portfolio of corporate loans from RBS.
Feb. 26, 2015, 6:45 AM
- Mizuho Financial Group (NYSE:MFG) has agreed to buy Royal Bank of Scotland's (NYSE:RBS) U.S. and Canadian loan commitments in a deal worth $3B.
- The deal is likely to close around the middle of the business year starting in April.
- RBS -3.5% after posting its seventh straight annual loss earlier this morning.
Sep. 12, 2014, 6:43 AM
- As banks weigh in their bids for Citigroup's (NYSE:C) Japanese retail banking operations, the U.S. bank announced that it was looking to sell its Japanese Diners Club card business along with the unit.
- Citigroup's Japanese retail business has some 3.6T yen ($33.6B) in deposits, of which almost 2T yen is dollar-denominated, attracting Japanese banks seeking foreign currencies.
- Ten banks, including Mitsubishi UFJ Financial (NYSE:MTU), Mizuho Financial (NYSE:MFG), Sumitomo Mitsui Financial (NYSE:SMFG), Resona (OTCPK:RSNHF), Sumitomo Mitsui Trust (OTCPK:SUTNY) and Shinsei Bank (OTCPK:SKLKY) have all submitted preliminary bids.
Jan. 31, 2014, 3:45 AM
Oct. 28, 2013, 8:24 AM
- President Yasuhiro Sato will go six months without pay and parent company chairman Takashi Tsukamoto will step down as chairman of the bank unit - Mizuho Bank (while also losing a half year's salary).
- The company also outlined measures such as database sharing and the addition of an outside director to prevent further dealings with yakuza crime groups.
- MFG +2.5% in Tokyo overnight.
Jun. 4, 2013, 9:11 AM
Mar. 27, 2013, 8:28 PM
Japanese stocks trade lower as global markets await the scheduled reopening of banks in Cyprus. The Nikkei Average lost 0.3% to 12,457 with banks and autos among the weak spots: Mizuho Financial Group (MFG -1%), Sumitomo Mitsui Financial Group (SMFG -1.2%), and Shinsei Bank (SKLKY.PK -0.9%), Honda (HMC -0.8%), Mazda (MZDAY.PK -1.8%), and Toyota (TM -0.65%) and Nissan (NSANY.PK -0.5%).| Mar. 27, 2013, 8:28 PM | 1 Comment
Jan. 8, 2013, 7:58 PMJapanese stocks extend their losses again today, as further gains for the yen hit exporters and overnight losses in the U.S. weighed on the overall market. The Nikkei Average is currently down 0.6% at 10,445: Sharp (SHCAY.PK -2.4%), Suzuki Motor (SZKMY.PK -2.3%), Honda (HMC -2.7%), and Mazda (MZDAY.PK -3.5%), Sony (SNE -1.8%). Mitsubishi UFJ Financial Group (MTU -1.7%), Mizuho Financial Group (MFG -1.9%), and Nomura Holdings (NMR -2.1%). | Jan. 8, 2013, 7:58 PM | 1 Comment
Oct. 12, 2012, 3:29 AM
Softbank (SFTBF.PK) is in negotiations with three major Japanese banks - Mizuho (MFG), Sumitomo Mitsui (SMFG) and Mitsubishi UFJ (MTU) - about borrowing $23B to fund its bid for Sprint (S), Reuters reports. While Sprint is worth $17.3B, it also carries almost $15B of debt. Japanese investors have reacted with dismay to news of the talks, with Softbank's shares closing -17%.| Oct. 12, 2012, 3:29 AM | 9 Comments
Feb. 28, 2012, 7:15 PM
Feb. 22, 2012, 7:26 PMJapanese stocks trade lower, with banks retreating in line with their U.S. peers after a raft of weak euro-zone data. The Nikkei Average is currently down 0.2% to 9,535: Mitsubishi UFJ Financial Group (MTU -0.20%), Mizuho Financial (MFG -1.2%), and Shinsei Bank (SKLKY.PK -1%). | Feb. 22, 2012, 7:26 PM
Feb. 1, 2012, 7:47 PM
Japanese shares are higher today on the back of strength in the U.S. markets overnight, but due to technical problems on the exchange, many shares have been left temporarily untraded. The Nikkei Average is currently up +0.8% to 8,884, with banks and auto makers among the leading gainers: Toyota (TM +2.7%), Honda (HMC +2.9%), Nomura (NMR +6.8%), Daiwa (DWA +3.7%), Mitsubishi UFJ (MTU +2%) and Mizuho (MFG +2%).| Feb. 1, 2012, 7:47 PM | 1 Comment
Jan. 17, 2012, 8:59 AM
Well-capitalized banks, the near-record strength of the yen, and few avenues of growth at home mean Sumitomo's (SMFG) purchase of RBS's aircraft-leasing business might be the first of several European asset acquisitions by Japanese banks. Also, taking a close look at the stream of potential deals flowing through boardrooms is Mizuho Financial (MFG).| Jan. 17, 2012, 8:59 AM
Jan. 10, 2012, 7:29 PM