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CoinOtag
2024-06-22 00:22:42

Japan’s Norinchukin Bank to Liquidate $63 Billion in US and European Treasuries Amid Massive Unrealized Losses

Japan’s Norinchukin Bank to Liquidate $63 Billion in US and European Treasuries Amid Massive Unrealized Losses

Japan’s Norinchukin Bank plans to liquidate $63 billion in US and European treasuries to reduce unrealized losses. The liquidation is expected to total approximately 23 trillion yen in foreign bonds, bringing the bank’s fiscal year net loss to 1.5 trillion yen. Norinchukin Bank’s CEO Kazuto Oku emphasized the need for a major shift in investment

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