Japanese regional banks will see core operating profits fall by 21% if the centr...
TOKYO - Japanese regional banks will see core operating profits fall by 21% if the central bank deepens negative interest rates, S&P Global Ratings said on Tuesday, warning of the potential dangers of ramping up an already massive stimulus program.
“Much bigger headaches loom for Japan’s already struggling banks if the country’s central bank pushes interest rates down further. And regional banks will be worst hit,” it said. Based on data for the fiscal year ended in March, 10 out of 64 regional banks lost money in their lending businesses, the report said.
BOJ Governor Haruhiko Kuroda has signaled that deepening negative rates will be among key options if the BOJ were to ease. But critics have warned that doing so could do more harm than good by hurting commercial banks’ profits and discouraging them from boosting lending.
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