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Shortfalls Exposed As Japan's Banks Implement New Pension Accounting Rules Sep 00 Product Image

Shortfalls Exposed As Japan's Banks Implement New Pension Accounting Rules Sep 00

  • Published: September 2000
  • Region: Japan
  • Standard & Poors

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  • 77 Bank Ltd.
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Abstract
TOKYO (Standard & Poor's CreditWire) Sept. 28, 2000--New accounting rules for pension liabilities will force Japan's banks to disclose about ¥2 trillion in shortfalls, according to Standard & Poor's. While this will impair Japanese banks' already poor profitability, there is unlikely to be any immediate impact on their credit quality. Standard & Poor's estimates that total shortfalls for major banks and Tier I regional banks in Japan will amount to about ¥2 trillion, equivalent to 63% of the banks' core profits, or 13% of their Tier 1 capital for fiscal 1999 (ended March 31, 2000). The principal requirement of the new accounting rules, which took effect from April 2000, is the calculation of the banks' projected benefits obligation, or estimated...

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