Mitsubishi UFJ Financial Group (MUFG)
Yen volatility boosts BTM revenues
Yen volatility has boosted Bank of Tokyo-Mitsubishi’s (BTM) foreign exchange revenues. The bank also reported soaring client demand for currency options in fiscal 2003.
Bank of Montreal hires in credit
Bank of Montreal (BOM) has made a number of appointments in London to strengthen its credit platform.
Building scenarios
Kenji Fujii of UFJ Holdings looks at the benefits of using scenario analysis as a means of managing operational risk, and discusses UFJ Bank's scenario-based advanced measurement approach.
Countdown to Basel II
With Basel II set for implementation in three years' time, some banks in the Asia Pacific region are working hard to align their operational risk systems with the requirements outlined in the new Accord.
BTM expands use of forex pricing system in Japan
The Bank of Tokyo-Mitsubishi (BTM) has extended its use of financial software company Cognotec’s online foreign exchange trading system in Japan.
Japanese CJ50 index reaches ¥10 billion on first trading day
The CJ50 index that tracks the movement of Japan’s 50 most actively traded credit default swaps started trading today, with volume reaching beyond ¥10 billion ($83 million), according to BNP Paribas.
Japanese credit spreads tighten, especially in electronics
The cost of credit protection on Japanese corporate debt tightened across the board this week, with spreads in the electronics sector particularly narrower, although volumes were thin.
UBS Warburg to join CJ 50 index
UBS Warburg has become the fifth credit derivatives dealer to contribute to the CJ 50 index, a joint venture product that tracks Japan's 50 most liquid credit default swaps.
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…
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…
Sony hit by poor earnings reports and downgrade threat
Credit default swap spreads on Japan’s largest consumer and electronics group, Sony, widened further this week, following weaker than expected earnings results and the potential threat of a downgrade by Moody’s Investor Services, say traders.
Japanese credit spreads tighten to near-record levels
Japanese credit default swap spreads continued to tighten on technical factors, nearly reaching record levels, with trading volumes on the whole fairly subdued, according to traders.
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.
Japan credit spreads tighten as Iraqi conflict draws to a close
Credit protection on Japanese names continued a tightening trend this week, on the back of positive sentiment globally with the war in Iraq nearing a close and the absence of negative news in the domestic market.
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.
Japan credit default spreads resume tightening due to CDO activity
Japan’s credit default swaps market resumed its tightening trend with protection sellers coming back to the market as the new fiscal year started, dealers said today. Recent spread widening offered some arbitrage opportunities related to collateralised…
Japanese credit spreads resilient to war on Iraq
Credit protection on Japanese names remained tight today despite the outset of war on Iraq, with volumes traded in the market on the whole fairly subdued.
Japanese banks' spreads widen following Nikkei tumble
Credit protection on the debt of Japan’s major banks widened this week as the Nikkei stock index hit a new 20-year low. Investors were concerned that the Nikkei 225 index's fall below the psychologically important 8,000 level - it plunged to 7,862.43 on…
Sumitomo capital raising sparks Japanese bank spread widening
Japanese bank credit protection spreads widened this week as a capital-raising exercise by Sumitomo Mitsui Banking Corp (SMBC) sparked renewed fears that banks were trying to shore-up capital reserves ahead of their year-end results.
Japan's UFJ Bank to issue synthetic CLO in March
Japan’s UFJ Bank is preparing to launch a balance sheet synthetic collateralised loan obligation (CLO) referenced to a pool of loans extended by UFJ Bank to Japanese small and medium sized companies, worth ¥1 trillion ($8.4 billion). The synthetic CLO,…
Japanese bank spreads hit on renewed equities portfolio concerns
Spreads on Japanese bank credit default swaps widened an average 10 basis points this week, sparked by renewed investor concerns about unrealised losses linked to their large equity portfolios.
Nationalisation required for Japanese bank recovery, says Fitch
A partial nationalisation of Japan's ailing banks may be the only way to resolve the country's economic woes, with recent efforts by individual institutions to restructure their balance sheets unlikely to lead to an autonomous recovery in the banking…
Nationalisation required for Japanese bank recovery, says Fitch
A partial nationalisation of Japan’s ailing banks may be the only way to resolve the country’s economic woes, with recent efforts by individual institutions to restructure their balance sheets unlikely to lead to an autonomous recovery in the banking…