Sign In
April 15, 202112:37 AM PDT
Asia Pacific
Japanese banking association calls for post-Archegos vigilance

2 minute read
Japanese banks must be on the lookout for cases similar to the collapse of Archegos Capital Management, the head of the country's banking lobby group said on Thursday.
The New York investment fund run by former Tiger Asia manager Bill Hwang collapsed last month when its debt-laden bets on media companies including ViacomCBS (VIAC.O) unravelled, leaving global banks with losses.
"We need to pay close attention to whether a second or third Archegos might emerge," Kanetsugu Mike, chairman of the Japanese Bankers Association (JBA), said at a regular press conference.
Among Japanese investment banks, Nomura Holdings Inc (8604.T) flagged a possible $2 billion loss and the securities unit of Mitsubishi UFJ Financial Group Inc (MUFG) (8306.T) said its loss was estimated at about $270 million.
Although JBA's Mike does not expect the Archegos collapse to lead to a financial crisis, saying the impact on the financial market and real economy appears limited, he said it remains necessary to keep a close watch on the market.
Our Standards: The Thomson Reuters Trust Principles.
Read Next
Read Next
China cancels Everest spring climbing over coronavirus worries
6:39 AM PDT
Read Next
Taiwan raises COVID-19 alert level, reports 180 new cases
6:33 AM PDT
Read Next
Taiwan tightens curbs after surge in domestic COVID-19 cases
6:45 AM PDT

Sign up for our newsletter
Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
Asia Pacific
Asia Pacific · 6:39 AM PDT
Myanmar army battles anti-coup rebels in northwest town
Myanmar's army battled local militia fighters in the northwestern town of Mindat on Saturday, residents said, to try to quell a rebellion that has sprung up to oppose the junta which seized power in the Southeast Asian country in February.
Asia Pacific
China cancels Everest spring climbing over coronavirus worries
6:39 AM PDT
Asia Pacific
Australia carries out first repatriation flight from India after travel ban
May 14, 2021
Asia Pacific
Taiwan tightens curbs after surge in domestic COVID-19 cases
6:45 AM PDT
Asia Pacific
New Zealand PM says to fight hate, study social media algorithms
1:04 AM PDT
About Reuters
About Reuters
Reuters News Agency
Brand Attribution Guidelines
Reuters Leadership
Reuters Fact Check
Reuters Diversity Report
Stay Informed
Download the App
Information you can trust
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.
Follow Us
Thomson Reuters Products
Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology.
The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs.
The industry leader for online information for tax, accounting and finance professionals.
Refinitiv Products
Information, analytics and exclusive news on financial markets - delivered in an intuitive desktop and mobile interface.
Refinitiv Data Platform
Access to real-time, reference, and non-real time data in the cloud to power your enterprise.
Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks.
Advertise With Us
Advertising Guidelines
Terms of Use
Site Feedback

All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays.
© 2021 Reuters. All rights reserved