Japanese Banks Will Get Earnings Bump From Deposits at BOJ [Yahoo! Finance]
Mitsubishi UFJ Financial Group, Inc. (MUFG)
Company Research
Source: Yahoo! Finance
(Bloomberg) -- Japanese banks will start earning billions of yen in interest on their deposits with the Bank of Japan after it scrapped negative rates. Most Read from Bloomberg Apple Is in Talks to Let Google Gemini Power iPhone AI Features Musk Says His Ketamine Prescription Is in Investors' Best Interests Trump Rules Out Vivek Ramaswamy as Running Mate as He Eyes New Team Nvidia Unveils Successor to Its All-Conquering AI Processor Putin Warns Russia Won't Stop After Predictable Election Win Major banks, including Mitsubishi UFJ Financial Group Inc. and other top lenders, have 106.7 trillion yen ($712 billion) in reserves that are currently paying no interest, according to BOJ data. They have another 79.4 trillion yen on deposit that is earning 0.1%. In announcing the end of its negative interest rate policy on Tuesday, the BOJ said it will pay 0.1% interest to current account balances, excluding required reserves. The new interest rate will apply from March 21, the
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MUFG
News
- Ex-Carlyle Japan Executive Raises $960 Million for First Fund [BNN Bloomberg (Canada)]BNN Bloomberg
- BOJ to Hold Rates With Focus on Hawkish Signals to Buoy Yen [Yahoo! Finance]Yahoo! Finance
- BOJ to Hold Rates With Focus on Hawkish Signals to Buoy Yen [BNN Bloomberg (Canada)]BNN Bloomberg
- Nium Expands Regional Footprint in Asia; Signs Partnership MOU with Indonesian Payments Infrastructure Leader, Artajasa [Yahoo! Finance]Yahoo! Finance
- Consumer Credit Market Report 2024: A Global $16.8 Billion Industry by 2032, Driven by High Economic Growth for Micro-enterprises, Especially in Developing Nations [Yahoo! Finance]Yahoo! Finance
MUFG
Sec Filings
- 4/17/24 - Form 6-K
- 4/9/24 - Form 424B2
- 4/9/24 - Form FWP
- MUFG's page on the SEC website