Sumitomo Mitsui Banking Corporation

Learning from losses

Energy and commodity markets have staged impressive growth in the past 15 years, but there have also been some eye-watering failures along the way. Katie Holliday considers what has been learnt from these catastrophes, and whether derivatives scandals…

SMBC reprimanded over forced swaps sales

Japanese regulators have criticised Sumitomo Mitsui Banking Corporation for compelling customers to buy interest rate swaps in exchange for extended loans.

Sumitomo Corporation installs FNX’s Sierra

Japan’s Sumitomo Corporation has installed FNX’s Sierra System to support its strategy of complete straight-through processing (STP) for its commodities, exchange-traded products and swap-trading operations.

Fujitsu spreads widen 30bp due to multiple woes

Credit default swap spreads on Japanese computer maker Fujitsu’s five-year debt protection widened 30 basis points this week, following media speculation that the company might become a “rehabilitation candidate” for the government’s Industrial…

Japan's four major banks post losses of $31bn for 2002

Japan's four largest banks have posted a combined ¥3.61 trillion ($30.9 billion) in losses for the 2002 financial year, following larger-than-expected losses in their cross-equity holdings amid slump in the country’s equity markets and their ongoing…

Japanese banks: Turning up the heat

Japan's banks have faced a gruelling few months in the run-up to the fiscal year-end, with a plunge in equity prices putting severe pressure on capital ratios. But a further crisis may be just around the corner, writes Nick Sawyer.

Moody’s sees record Japanese yen CDO issuance

International rating agency Moody’s Investors Service said today it rated a record ¥3.02 trillion ($25 billion) of collateralised debt obligations (CDOs) in the first quarter of the year. That compares to full-year volume of ¥3.14 trillion in 2002.