Central Bank X

IMF- Japanese banks hold 24% of JGBs (last Oct). According to BOJ a "1% yield increase" [we believe they mean a 100 bp parallel yield curve shift} would wipe out 20% of regional bank T1 capital.
The JGB is down 2.38% in the last 3 trading sessions.
What's happening to the BOJ T1 capital?
Maybe TAPERING is just a euphemism for tempering future losses.
Granted, at a base level, we don't care at the BOJ or the Fed (or the ECB for that matter). But, at an optics level, imagine the "insolvency" rants....

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