1H16 Better-Than-Expected Results Suggest Earnings Inflection Points; Positive For Japanese Banks
Four major banks under our coverage reported better-than-expected results, indicating an inflection point in their earning structure. In aggregate,...
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Lack of Term Premium Continues to Cost Japanese Banks with Limited Financial Flexibility
The Bank of Japan has just released its semiannual assessment on the financial system with an explicit focus on the negative interest rate...
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Structural Reform II: Political Economy Backdrop
One of the enduring questions regarding Japan’s “lost decades of growth” remains the degree to which failure to grow owes to insufficient...
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Three Pronged Attack on Japan's Banks, Becomes More Pointed
Japan’s banks face pressure on margins, credit costs and stock market losses. Much of this will worsen further since events in the UK....
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Japan's Banks Can Lose 30% of Income
With less interest income on cash, securities and loans, Japan’s banks can lose a considerable amount of current profit. We show how negative...
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