In a reversal of fortunes, the big Japanese banks have readied as much as $10 billion to rescue the West's banking titans
The three wealthiest Japanese finance houses are set to step into the worsening sub-prime carnage as the âsilent investment partnersâ of Wall Street and Europe's stricken banking titans.
Senior sources at the âbig threeâ Tokyo megabanks told The Times that they had readied a combined cashpile of as much as $10 billion (£5 billion) and were open to negotiation with any struggling Wall Street bank that approached them for a cash infusion.
Mitsubishi UFJ (MUFJ), Mitsui Sumitomo Financial Group (SMFG) and Mizuho Financial - banks that have been scarred only very lightly by the sub-prime crisis in the United States - are understood to have already opened preliminary talks with several American firms.
One MUFJ insider said that his firm was planning to compete directly with the leading Asian sovereign wealth funds as a long-term investor in the troubled American banks. The Japanese banks, flush with cash and desperate to find ways of raising their return on capital, are keen to become central players in what some predict will be an all-Asian solution to the sub-prime woes contorting America and Europe.
http://business.timesonline.co.uk/t...ectors/banking_and_finance/article3193341.ece
Carry trade is dead ! Ha, ha, ha....Who´s carrying who right now ?
The three wealthiest Japanese finance houses are set to step into the worsening sub-prime carnage as the âsilent investment partnersâ of Wall Street and Europe's stricken banking titans.
Senior sources at the âbig threeâ Tokyo megabanks told The Times that they had readied a combined cashpile of as much as $10 billion (£5 billion) and were open to negotiation with any struggling Wall Street bank that approached them for a cash infusion.
Mitsubishi UFJ (MUFJ), Mitsui Sumitomo Financial Group (SMFG) and Mizuho Financial - banks that have been scarred only very lightly by the sub-prime crisis in the United States - are understood to have already opened preliminary talks with several American firms.
One MUFJ insider said that his firm was planning to compete directly with the leading Asian sovereign wealth funds as a long-term investor in the troubled American banks. The Japanese banks, flush with cash and desperate to find ways of raising their return on capital, are keen to become central players in what some predict will be an all-Asian solution to the sub-prime woes contorting America and Europe.
http://business.timesonline.co.uk/t...ectors/banking_and_finance/article3193341.ece
Carry trade is dead ! Ha, ha, ha....Who´s carrying who right now ?
