High hedging costs and a low yen have led Japanese life insurers to focus on domestic government bonds, although declining yields might also prompt them to seek out alternatives.
Japanese banks confront turbulence globalcapital.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globalcapital.com Daily Mail and Mail on Sunday newspapers.
Nomura said the losses from the implosion of Archegos Capital will be nearly $ 2.9 billion, as people close to the Japanese bank have said they have permanently suspended their chief mediation operations.
The economic blow to the country’s biggest brokerage Nomura is more than a loss of approximately $ 2 billion initially marked when the mishap caused by the powerful family office appeared in late March.
Bill Hwang’s loss of Archegos, which has not been officially named by the nominee and calls him a “U.S. customer,” has pushed the bank to bear the biggest quarterly loss since the 2008 global financial crisis. He also called for a commitment that Nomura would strengthen its risk management systems.
Archegos Debacle Deals $10 Billion Blow To Banks ibtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ibtimes.com Daily Mail and Mail on Sunday newspapers.