Member access

4-Traders Homepage  >  Shares  >  Tokyo  >  Mizuho Financial Group, Inc.    8411   JP3885780001

SummaryChart AnalysisNewsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll news 

Mizuho Financial Gr. : Japan bank lobby head: no problem with Tibor structure

07/19/2012 | 04:00am US/Eastern
Recommend:
0

The head of Japan's banking industry lobby said on Thursday he does not see any particular problem with the structure of how the Tokyo interbank offered rate, known as Tibor, is decided.

Yasuhiro Sato, chairman of the Japanese Bankers and president of Mizuho Financial Group, also said at a regular news conference he did not believe Japanese banks were involved in the manipulation of the London interbank offered rate, Libor.

Confidence in Libor, a benchmark that underpins transactions worth trillions of dollars, has been shaken by revelations that bankers manipulated the rate to profit on trades and hide their own borrowing costs during the 2007-09 financial crisis.

The Japanese banking lobby has asked the 18 banks contributing to Tibor to check whether proper procedures are being followed in submitting rates.

"We don't think there's any problem with (Tibor), but we decided on a check given growing public interest in Libor," the association's director, Shin Takagi, told a meeting of ruling party lawmakers on Thursday.

(Reporting by Taiga Uranaka; Editing by Michael Watson)

Recommend :
0
React to this article
Latest news on MIZUHO FINANCIAL GROUP, IN
3h ago Japan banks, ANZ among nine foreign lenders to gain Myanmar licences
5d ago MIZUHO FINANCIAL GROUP, INC. : ex-dividend day for interim dividend
09/17 MIZUHO FINANCIAL : : Bank Announces New Public Finance Investment Banking Appoin..
09/17 Growth steps, banking rules in focus as G-20 to meet over weekend
09/16 MIZUHO FINANCIAL : : Securities USA Announces Senior Leadership Appointment With..
09/15 MIZUHO FINANCIAL : Corrections in "SELECTED FINANCIAL INFORMATION For Fiscal 201..
09/12 Citigroup seeking to sell Diners Club business in Japan with retail unit - so..
09/10 MIZUHO FINANCIAL : Corrections in "SELECTED FINANCIAL INFORMATION For Fiscal 201..
09/01 Imperial Tobacco closes $13 billion of loans
08/31 MIZUHO FINANCIAL : Casualty insurers to allow gangsters to buy auto insurance
Advertisement
Chart
Duration : Period :
Mizuho Financial Group, In Technical Analysis Chart | 8411 | JP3885780001 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF