Free Trial
GOLD TECHS

Bear Flag Formation

BUNDS

Pushing towards the 2% Yield mark

BRENT TECHS

(X2) Outlook Remains Bearish

EQUITY TECHS

E-MINI S&P (Z2): Bear Trend Extends

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Mizuho Charged Negative Rates on BoJ Deposits For First Time in 7 Months

BOJ
  • Reuters reports Mizuho Bank was charged negative interest rates on some of its deposits at the BoJ in mid-July through August, a spokesperson said, as the main banking unit of Mizuho piled up reserves.
  • It is the first time in seven months that negative rates were charged on reserves held by any of Japan's megabanks* Spokesperson for Mizuho said the bank held 902.8 billion yen in BOJ reserves with negative rates.
  • Japan's megabanks have mostly avoided paying the interest by shifting money out of BOJ reserves. But Mizuho increased deposits this time as it shifted funds away from short-term Japanese government bonds due to their plunging yields, the spokesperson said.
108 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • Reuters reports Mizuho Bank was charged negative interest rates on some of its deposits at the BoJ in mid-July through August, a spokesperson said, as the main banking unit of Mizuho piled up reserves.
  • It is the first time in seven months that negative rates were charged on reserves held by any of Japan's megabanks* Spokesperson for Mizuho said the bank held 902.8 billion yen in BOJ reserves with negative rates.
  • Japan's megabanks have mostly avoided paying the interest by shifting money out of BOJ reserves. But Mizuho increased deposits this time as it shifted funds away from short-term Japanese government bonds due to their plunging yields, the spokesperson said.