Mitsubishi UFJ Financial Group (MUFG)
Mitsubishi expands credit sales team
Mitsubishi UFJ Securities International (MUSI) last month expanded its credit trading and sales team.
Citibank cut out
The suspension of Citibank’s private banking business by the Financial Services Agency in September has brought to light a catalogue of internal control and governance failures within the bank’s Japanese operations. And with Citi now cut out of the…
Deutsche gets China derivatives licence
Deutsche Bank has become the latest institution to gain a licence to trade derivatives onshore in China. A Deutsche official in Singapore told RiskNews that the China Banking Regulatory Commission (CBRC) gave the German bank the go-ahead yesterday.
Chinese regulator extends derivatives transition period
The China Banking Regulatory Commission (CBRC) has extended the transition period for its new derivatives licensing regime, giving banks an extra three months to get licences in place that will allow them to trade derivatives onshore.
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.