Japanese Get Yen For Netting After BIS Gives Green Light
REGULATIONS
Japanese banks have developed a sudden yen for netting following the Basle Committee on Banking Supervision announcements on July 15 which recognised close-out netting (FX Week, July 25).
"Official approval of netting has been the greatest incentive for us to extend netting to transactions among Japanese banks," says Terry Tanaka, manager of the Industrial Bank of Japan's international treasury department who confirms that IBJ is negotiating terms for a netting agreement with Mitsubishi Bank.
The
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