US ratings agency out with a report of Japanese banks 10 June 2016
- low-growth operating environment, BOG neg rate policy, increased foreign ccy funding costs will pressure profitability for Japan's banks
- expects pace of economic growth to remain at less than 1% through medium term
- regular bond issuance is likely to continue through medium term with mega banks on to track to meet Basel III total loss-absorbing capacity.
Tough time for banks as per Adam's earlier post and although many will have little sympathy there are definitely concerns over market functionality.
Meanwhile USDJPY 107.00 with Nikkei down -0.85% at 16527.74 also just off session lows
