business

Japanese megabanks rise in credit standings

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© 2012 AFP

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The European debt crisis has helped Japanese banks rise in international credit standings as they remain relatively stable compared with their U.S. and European peers, according to a press report.

So did Japanese institutions actually rise, or did all the others just fall?

As measured by credit default swaps, the three domestic megabanks—Bank of Tokyo-Mitsubishi UFJ, SMBC and Mizuho Corporate Bank—rank third, fourth and fifth in credit standings among Japanese, U.S. and European banks, the daily said. Since the Lehman crisis was fuelled by CDS', is being high in CDS rankings actually a good thing?

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American banks are strong. I think this article is flawed.

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JapanGalFEB. 13, 2012 - 11:03AM JST American banks are strong. I think this article is flawed.

I thought BoA was strong, but now it is in trouble like the rest. Given my misplaced confidence in BoA, I don't feel that comfortable with American banks.

By the way, is the article flawed or Fitch Ratings wrong?

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Japanese mega banks are phenomenally well funded --Mitsubishi UFJ alone has over 1.6 trillion dollars in deposits. They are also making good profits on JGB -- over the dead bodies of all those doom sayers :D

http://www.economist.com/node/18233464

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