http://www.zerohedge.com/news/2013-06-11/biggest-japanese-ipo-year-plunges-stocks-and-jgbs-fading-fast
Submitted by Tyler Durden on 06/11/2013 21:38 -0400
http://www.zerohedge.com/news/2013-06-11/land-rising-bail-deposit-confiscation-coming-japan-next
( How likely is it that Mitubishi UJF , Mizuho Financial and Sumitomo Mitsui may soon to be revealed as potentially " troubled " Banks , when the proverbial tide goes out ? Just look at what they're proposing here ? )
Submitted by Tyler Durden on 06/11/2013 20:15 -0400
http://fukushima-diary.com/2013/04/withdrawal-regulation-jp-6th-largest-bank-shinsei-to-ban-withdrawal-from-atm-outside-of-jp/
Biggest Japanese IPO Of The Year Plunges; Stocks And JGBs Fading Fast
A smorgasbord of secondary Japanese data missed expectations this evening and while all appears relatively calm if you just look at USDJPY, it is anything but in the stock and bond markets which have both lost significant ground already. Nomura launched the largest IPO of the year (Nomura REIT) and it is down 4.8% out of the gate (at least they didn't pull the 'market conditions' trick so many US companies fall back on) but the broad TOPIX index is down 2.4% and unable to find any dip-buyers to encourage. Financials (-3.4%) and Consumer stocks (-2.5%) are the worst with Utilities modestly bid (+0.3%) for now. JGBs were following the 'open down, rally gently higher for the rest of the day' pattern of the last three days but soon after the BoJ announced its buying program at 9ET, the selling escalated. All-in-all, it is more of the same from the US day-session but with JPY oddly quiet for now as the JGB market remains mildly out of control...
http://www.zerohedge.com/news/2013-06-11/land-rising-bail-deposit-confiscation-coming-japan-next
( How likely is it that Mitubishi UJF , Mizuho Financial and Sumitomo Mitsui may soon to be revealed as potentially " troubled " Banks , when the proverbial tide goes out ? Just look at what they're proposing here ? )
Land Of The Rising Bail In: Deposit Confiscation Coming To Japan Next
We now know that 'muddle through' is over, and just as we noted here "there may only be painful ways out of this crisis" as we evidenced by Europe's attack on Cypriot depositors. With the pillars of Abenomics starting to crumble, it seems plans are afoot to prepare for the bank failures that will come from a BoJ-inspired out-of-control bond market.
As Nikkei reports, Japan's Financial Services Agency will enact new rules that will forced failed bank losses on investors, if needed, via a mechanism known as a "bail-in."
The FSA report also notes that Mitsubishi UFJ (MTU), Mizuho Financial (MFG) and Sumitomo Mitsui (SMFG) are among those proposing amendments to allow them to issue the types of preferred shares or subordinated bonds that would be used in such cases.
So not only will Japanese banks suffer VaR shock-driven needs to reduce JGB holdings but a weaker deposit base will further exacerbate the deleveraging.
and recall Japan Banks starting to impose ATM overseas gates.....
http://fredw-catharsisours.blogspot.com/2013/04/shinsei-bank-japans-6th-largest-bank-to.html
* * *
http://www.shinseibank.com/info/news130401_international.html
For information about changing the limit ATM withdrawals abroad [Important]
In order to prevent such withdrawal illegal in ATM overseas, from Saturday, according to, for example, usage of our customers, the following limits withdrawals per day when using your ATM overseas June 01, 2013 will change as.
Overseas ATM withdrawal limits
| Current | Sun / ¥ 1 100 000 (※ 1) |  | After the change | / Day $ 0 |
|---|
Customers to be
- Customers already have an account
(Saturday), customers who fall under any of the following conditions, we will change to $ 0.00 limit withdrawals per day when using your ATM overseas (※ 1) June 1, 2013 .
- (Condition 1)
- To the customers, which is open an account to UBS prior to May 31, 2008, customers have no track record use of the ATM overseas cash card Bank until May 31, 2013 June 1, 2008
- (Condition 2)
- To the customers, which is open an account in UBS Between November 30, 2012 June 1, 2008, the actual use of the ATM overseas cash card the Bank at all until 31 May 2013 from the date of account opening customers do not
- Customers that you open a new account
Account was opened after June 1, 2013 customers (※ 2)
By telephone or Internet banking, customers will be subject to the above when you use an ATM abroad since Saturday, please change the withdrawal limit before June 1, 2013.
After Your use of the ATM overseas, for the safety of the account of customers, the period does not intend to be using the ATM abroad, even when placed in customers that are not, and subject to the above, 0 the limit withdrawals We hope the changes to a circle.
You can check and change the phone or by Internet banking withdrawal limit.
You can check and change the phone or by Internet banking withdrawal limit.
- ※ 1If you have not changed your own customers, it is $ 100 000 across the board. You can optionally set within a range of customers from ¥ 100,000 ~ ¥ 0.
- ※ 2When you open an account by mail, there is a possibility that the Sun is approximately Procedures established. When you mail the account application in late May 2013 and receive your card and cash has become next June, please check your settings, change your credit limit at the phone or Internet banking.
http://fukushima-diary.com/2013/04/withdrawal-regulation-jp-6th-largest-bank-shinsei-to-ban-withdrawal-from-atm-outside-of-jp/
[Bank withdrawal regulation ?] JP 6th largest bank Shinsei to ban withdrawal from ATM outside of JP
Posted by Mochizuki on April 14th, 2013 · No Comments
A Japanese bank, Shinsei bank is going to ban withdraw cash from ATM outside of Japan from 6/1/2013.
Shinsei bank has the 6th largest sales in Japan, which is 413 billion yen annually. (2011)
They state the restriction is to prevent iniquitous withdrawal overseas. The account holders were allowed to withdraw up to 100,00 JPY per day from ATM outside of Japan.
The accounts covered are
- Opened before 5/31/2008, no usage of ATM overseas from 6/1/2008 to 5/31/2013.
- Opened from 6/1/2008 to 11/30/2012, no usage of ATM overseas until 5/31/2013.
- Opened after 6/1/2013.
and....
http://fredw-catharsisours.blogspot.com/2013/05/mizuho-bank-to-terminate-overseas-atm.html
Mizuho Bank to terminate service to withdraw cash from ATMs overseas,”owing to a variety of circumstances”
Posted by Mochizuki on May 18th, 2013 · No Comments
On 4/14/2013, Fukushima Diary reported “[Bank
withdrawal regulation ?] JP 6th largest bank Shinsei to ban withdrawal from ATM outside of JP [URL]”
One of the three Japanese Mega banks, Mizuho Bank is also going to terminate the international cash card service to withdraw cash and check the account balance from ATMs outside of Japan.
The termination date is 2/28/2014 (JST)
Mizuho Bank states “It’s owing to a variety of circumstances”.
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