JGB sell-off drives late-2025 record markdowns at Japanese banks

Major Japanese banks reported ¥7.05 trillion ($45 billion) in unrealised losses on Japanese government bond holdings in the final three months of 2025, with Japan Post Bank and Mitsubishi UFJ Financial Group accounting for the largest increases.

Tokenisation could boost repo capacity by up to 60%

“If you’re a buy-side firm that does a lot of trading intraday, you can do 40% to 60% more trading with the same balance sheet that you have – and that’s life-changing for a firm. That’s a monumental shift” – Yuval Rooz, Digital Asset, speaking at the Isda AGM. See all stories from the conference here.