Japan¡¯s financial regulator has sounded out top domestic banks about China risks and whether they have plans in place if Sino-Western tensions escalate, according to multiple sources with direct knowledge of the matter.
The Financial Services Agency¡¯s request, which has not been previously reported, is to ensure Japan¡¯s mega-banks are thinking about the risks and are prepared to respond if the geopolitical situation worsens, including over the issue of Taiwan¡¯s political status, said three of the sources.
Japanese mega-banks Mitsubishi UFJ Financial Group (MUFG), Sumitomo Mitsui Financial Group (SMFG) and Mizuho Financial Group have a combined $6.5 trillion in assets, according to Refinitiv.
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