Japanese banks’ hunt for capital resumes

Sumitomo follows Mizuho’s footsteps in issuing a Basel III-compliant Tier 2 note, replenishing Japanese banks’ yearly loss of $12 billion in legacy capital.
Tokyo
Tokyo

Sumitomo Mitsui Financial Group, Japan’s second largest lender, is marketing a dollar-denominated 10-year Basel III note in an effort to replenish capital lost under the regulation’s grandfathering arrangements.

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