Risk Japan 2011: MUFG risk chief hits out at supervisors on RRPs
Masao Hasegawa, CRO at Mitsubishi UFJ Financial Group, says he was taken aback by a regulatory requirement to develop a resolution and recovery plan before year-end
Masao Hasegawa, chief risk officer at Mitsubishi UFJ Financial Group, told delegates attending Risk Japan 2011 today in Tokyo that he was "surprised" by demands from Japanese regulators for detailed recovery plans – part of so-called recovery and resolution plans (RRPs) required from systemically important banks – by December this year.
His comments appear to confirm that MUFG, which has operations in 40 countries, is included as a systemically important financial institution (Sifi).
The
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