Japan Switches to Centralized Stress Tests on Five Banks: Nikkei
(Bloomberg) -- Japan’s government and central bank will conduct joint stress tests on MUFG Bank, Sumitomo Mitsui Banking Corp., Mizuho Bank, Sumitomo Mitsui Trust Holdings and Norinchukin Bank, Nikkei reported.
- The tests will gauge the banks ability to absorb economic shocks as expansion abroad leaves them more vulnerable to external risks
- Previously, Japan left the details of stress tests to individual banks
- NOTE: Oct. 24, Japan Authorities Are Said to Team Up on Bank Stress Tests
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