Bank of Japan (BoJ)
BoJ action to strengthen yen spurs FX options traders
Traders turn bearish on USD/JPY FX vol over further central bank intervention
Corporates boost FX hedges as US dollar surges
Banks see more business, but also rising exposures, from corporates’ FX decision-making
Banks plan first yen Libor bond transitions
SG and Crédit Agricole Tona switches expected to be first bonds that ditch outgoing Japanese rate
Japan’s Libor-linked structured products face basis menace
Lack of readiness for compounded rates could sweep repacks onto synthetic Libor, creating swaps mismatch
JSCC turns to commercial banks in rejig of liquidity reserves
Funds stashed at the Bank of Japan down 31% on the previous quarter
Dealers applaud proposal to halt yen Libor swaps after Q3
BoJ working group timetable viewed as likely to boost liquidity in nascent Tonar market
BoJ stress tests pressure top banks’ buffers
Capital ratios of internationally-active dealers projected to fall to 7.6% in worst-case scenario
Fed dollar swap operations slow as funding strains ease
Seven-day swap utilisation has dropped off since May
Japan banks seize on US dollar funding
Daily facilities drawn upon extensively this week
Banks rush to tap new dollar liquidity facilities
ECB saw strongest demand: $75.8 billion out of the new 12-week programme
Central banks activate contingency plans amid pandemic
Rotating and remote team working aims to reduce contagion risk
Japan selects term risk-free rate vendor
Sketchy volumes in overnight index swaps hold up calculation methodology
Compounded rate out of favour, finds Japan survey
Users prefer forward-looking term rate to replace yen Libor, but dealers bemoan “lack of understanding”
Japanese banks growing less resistant to financial crises
Ebbing income expectations would erode future capital ratios
Japanese megabank JGB portfolios shrink
Domestic government bond holdings drop 12% in 2018
Q&A: Japan RFR group head on term rates and Tonar liquidity
MUFG’s Matsuura discusses term benchmark options, cross-currency swaps and Tibor’s future
Fallback decision will lift yen OIS, says Japan RFR group chair
Move should kick-start dormant Tonar OIS market – key requirement to building a term rate
JSCC bond unit reports 26 margin breaches in Q3
JGB turmoil, heightened activity may have caught clearing members off-balance
Japan’s term RFR toil may mean bigger Tibor role
Derivatives-based methods for constructing curve challenging amid negative rate environment
Japanese corporates boost forex hedging
Notionals traded highest since end-2012
Japanese cross-border claims on European countries hit all-time high
Loans to entities in developed European countries outpace those to other western nations in Q1 2018
Bank of Japan cautions on low loan-loss reserves
Lenders vulnerable to reverse in benign economic conditions
DLT offers new possibilities for securities settlement, say ECB and BoJ
Second phase of ‘Project Stella’ looks at delivery versus payment on three DLT platforms