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Japan joins the list of countries that adopt “bail-in” provisions

June 14, 2013   Political

Japan joins the growing list of countries (including US, UK, Canada, Switzerland, New Zealand etc) that have inserted bail-in provisions into their legislation that allow depositor moneys to be confiscated in case of future bank failures. In effect, this measure has already been enacted in most important financial centers in the Western world …

Japan’s Financial Services Agency will enact new rules that will forced failed bank losses on investors, if needed, via a mechanism known as a “bail-in,” according to The Nikkei. Mitsubishi UFJ (MTU), Mizuho Financial (MFG) and Sumitomo Mitsui (SMFG) are among those proposing amendments to allow them to issue the types of preferred shares or subordinated bonds that would be used in such cases, the report noted.

http://finance.yahoo.com/news/japan-adopt-bail-ins-force-181947896.html

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