, Japan
Photo courtesy of 運転太郎 (Wikimedia Commons)

Mizuho Bank charged $6.75b negative interest rate by BOJ

This is the first time in 7 months that a megabank was charged.

Japan’s Mizuho bank was charged negative interest rates on its $6.75b (JPY902.8b) reserves, reports Reuters according to data from the Bank of Japan.

This is the first time in seven months that negative rates were charged on reserves of any of the country’s megabanks.

A spokesperson for Mizuho Bank said the bank held 902.8 billion yen in BOJ reserves with negative rates.

ALSO READ: Japan bank lending up 1.8% to record $4.36t in July: report

BOJ’s yield curve control imposes a 0.1% interest rate on a portion of excess reserves financial institutions park with the central bank.

Japan’s megabanks have mostly avoided paying the interest by shifting money out of BOJ reserves.

Read more from Reuters.

Follow the links for more news on

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Event News

Event News

BDO Capital Named as PH’s Corporate and Investment Bank of the Year for 5 Consecutive Years Co-Written / Partner
BDO Capital & Investment Corporation (BDO Capital) has been recognized as the country’s Corporate and Investment Bank of the year for the 5th straight year at the Asian Banking & Finance Awards. BDO Capital’s remarkable achievement is a testament to its consistent excellence in delivering best-in-class investment banking services across various product lines in the Philippine capital markets.