Banks suspend dual-currency deposit sales in Japan to re-document under new regulation

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Banks in Japan have suspended sales of dual-currency deposit products as they re-document under a ruling from the Financial Services Agency (FSA) that leaves premium generated by the instruments outside the country's deposit protection scheme.

The ruling, announced mid-October, initially caused confusion among dealers, with some believing the deposit principal would also not be insured. That could have threatened the future of a market dealers say has an outstanding notional size of anything

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