Norinchukin’s RWAs up 21% as Basel III formulas react to market volatility

- By Lorenzo Migliorato
- 11 Sep 2023

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The Norinchukin Bank’s capital requirements ballooned 21% in the volatile three months to end-June, driven by soaring counterparty and market risk charges, in a foretaste of what may await other Japanese banks once they also adopt the Basel III reform package.

Norinchukin voluntarily implemented the final Basel III standards in March, a full year before the hard deadline for large Japanese banks. In doing so, it dropped internal modelling for a swath of exposures, switching to overhauled

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