Japanese megabank JGB portfolios shrink

The three Japanese megabanks posted domestic sovereign bond holdings of ¥38.4 trillion ($349 billion) at end-December 2018, 12% lower than a year prior.

The Japanese government bond (JGB) portfolios of Mitsubishi UFJ Financial Group, Mizuho and Sumitomo Mitsui Financial Group reduced by ¥5.4 trillion in aggregate over the 12 months. SMFG’s shrivelled the most of the trio, by ¥2.8 trillion (33%), followed by Mizuho with a ¥1.2 trillion reduction (9%), and MUFG, which trimmed ¥1.4 trillion (6%).

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