Japan won't face incidents like SVB collapse - finance minister

TOKYO :Japan's banking sector won't face incidents similar to the collapse of U.S. lender Silicon Valley Bank due to differences in the structure of bank deposits, Finance Minister Shunichi Suzuki said on Wednesday.

Japanese banking shares on Tuesday tumbled the most since the onset of the COVID-19 pandemic, as investors grappled with contagion fears stemming from the collapse of SVB and New York-based Signature Bank. While Japanese banks have suffered losses on their foreign bond portfolios, they have been mostly offset by profits from stock holdings, Suzuki said.

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Japan won't face incidents like SVB collapse - Finance Minister SuzukiTOKYO : Japan's banking sector won't face incidents similar to the collapse of U.S. lender Silicon Valley Bank due to differences in the structure of bank deposits, Finance Minister Shunichi Suzuki said on Wednesday.'Japan's financial system is stable as a whole,' as banks have sufficient capital buffers
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »