Derivatives exposures blow-up weighs on Japan banks’ leverage measure

Leverage ratios at Mizuho, SMFG and SMTH hit multi-year lows

Derivatives exposures at some of Japan’s top dealers exploded during the first quarter, dragging their leverage ratios to multi-year lows.

Mizuho Financial Group saw the derivatives component of leverage exposure balloon 41% to ¥16.2 trillion ($123.8 billion) over the three months to March 31, mostly as a result of higher regulatory add-ons to capture potential future exposure, which are calculated as a percentage of notional principal.

  !function(e,i,n,s){var t="InfogramEmbeds",d=e

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here