Bank of Japan (BoJ) Deputy Governor Shinichi Uchida said on Thursday, “financial institutions and authorities must be prepared for any sudden outflow of deposits given digitalization and advances in IT.”
Featured Statements
The growing presence of non-banking financial institutions deserves attention, since they represent almost half of financial intermediations worldwide.
As the relationship between non-bank financial institutions and the banking sector deepens, the deterioration in the non-bank sector could spread to the entire financial system through the markets.
Market reaction
At press time, USD/JPY maintains the renewed rise above 156.00 following these comments, rising 0.39% on the day.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
