Jun 29, 2015

Japan hopes AIIB will meet standards befitting an international body

The government said Monday it hopes the China-led Asian Infrastructure Investment Bank to be launched by the end of the year will meet governance and other standards appropriate to an international financial institution. Japan hopes that by meeting such standards, the bank “will play ...

Jun 29, 2015

Aozora Bank completes repayment of bubble-era bailout

Aozora Bank on Monday finished repaying the government for all the public money injected into its nationalized predecessor, Nippon Credit Bank, during Japan’s nonperforming loan crisis in the late 1990s, officials from the lender said. On Monday, Aozora paid back some ¥143.4 billion to ...

Jun 26, 2015

LDP endorses raising cap on private deposits at Japan Post Bank

The Liberal Democratic Party on Friday endorsed a proposal by a party panel to raise a limit on deposits at state-backed Japan Post Bank to ¥30 million per person from ¥10 million at present, party officials said. The party’s decision-making General Council approved the ...

Jun 22, 2015

Banks did too little to police FIFA transactions, says global body

A global group of government anti-money-laundering agencies said that financial institutions have not done enough to police suspicious financial activity by officials at soccer’s global governing body FIFA, and cautioned banks to step up scrutiny. The warning from the Paris-based Financial Action Task Force ...

Jun 21, 2015

Italian prosecutors seek to indict Bank of China, 297 people

Italian prosecutors are seeking to indict 297 people and the Bank of China in connection with a massive money-laundering investigation reported by The Associated Press earlier this month. The suspects, mostly Chinese migrants living in Italy, include four senior managers of the Chinese state ...

Jun 18, 2015

BTMU to issue first yuan bond in Japan

The Bank of Tokyo-Mitsubishi UFJ Ltd. next week will issue Japan’s first bond denominated in China’s currency, company sources said Thursday, reflecting the recent thaw in bilateral relations. Targeting qualified corporate investors, the main lending unit of Japan’s biggest banking group is set to ...