BoJ’s Uchida: Financial institutions, authorities must be ready for any sudden outflow of deposits

Bank of Japan (BoJ) Deputy Governor Shinichi Uchida said on Thursday, “financial institutions, authorities must be ready for any sudden outflow of deposits given digitalization, advances in it.”

Additional quotes

Growing presence of non-bank financial institutions warrants attention, as they account for almost half of financial inter mediations globally.

As relationship between non-bank financial institutions and banking sector deepens, deterioration in non-bank sector could spill over to entire financial system via markets.

Market reaction

At press time, USD/JPY holds the renewed upside above 156.00 following these comments, up 0.39% on the day.