The Bank of Japan’s New Signal to Support U.S Dollar Funding is Positive to Japanese Banks
The Bank of Japan kept the negative interest rate unchanged after its most recent policy meeting. We welcome the implementation of a new U.S. dollar funding scheme, utilizing the central bank bilateral currency swap lines, to alleviate the rising cost of USD funding for Japanese banks. Under this new scheme, Japanese banks can access USD funding at a lower cost by pledging Japanese government securities at their BoJ accounts. In anticipation for lower funding costs ahead using this alternative f...Sumitomo Mitsui Trust Holdings is a holding company engaged in the management of Sumitomo Mitsui Trust Group Companies. Co.'s main business activities are banking, asset management and administration, and real estate. Co.'s banking business offers retail banking services throughout Japan; wholesale banking services to corporate clients; and marketable financial products for investment and risk management needs Co.'s asset management and administration business provides various products including pension plan for institutional investors and investment trusts primarily for individual clients. Co.'s real estate business offers a full line of real estate related transaction services.
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