TOKYO (Reuters) -Japan’s Financial Services Agency and the Bank of Japan will investigate high-risk trades by domestic financial firms after the Archegos fallout, the Nikkei business daily reported on Wednesday.
Top investment bank and brokerage, Nomura Holdings, was one of the highest-profile casualties while Mitsubishi UFJ Financial Group (MUFG) warned of a loss of around $270 million.
Japan’s regulators will check financial institutions’ management of transaction risks, the Nikkei said, without citing sources.
The FSA considers it critical that Japan’s major financial institutions faced a risk of losing several hundred billion yen, or several billion dollars, the Nikkei said.
Source: Read Full Article