Mizuho designates US intermediate holding company

It is required under the US Federal Reserve Board’s Regulation YY.

Mizuho Financial Group (MFG) is designating Mizuho Americas LLC, its wholly owned subsidiary of Muzho Bank, as its US intermediate holding company.

Mizuho Bank is a direct subsidiary of MFG.

MFG will designate MALLC as its holding company on 1 October 2024. By this time, MFG is required to hold its entire ownership in most US subsidiaries through the IHC.

Under the US Federal Reserve Board’s Regulation YY (Reg YY), MFG, a foreign banking organization in the US with more than $100b in combined US assets, is required to designate an intermediate holding company nine months after its US assets increased to $50b or more.

Subject to any required regulatory approvals, MFG will transfer its indirect share of
ownership of Asset Management One USA Inc., which is currently held by Asset Management One Co., Ltd.

The remaining ownership in AM-One USA will be held by Dai-ichi Life Holdings, Inc.

Mizuho Bank assured that AM-One will continue to provide asset management solutions to its clients in cooperation with AM-One USA.

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