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Report: Japan plans bank stress test amid global uncertainties

Japan plans to conduct a stress test on major financial institutions amid fears of a global recession and risks from ongoing trade tensions between the U.S. and China, Reuters reported, citing sources with direct knowledge of the matter.

Bank of Japan and the Financial Services Agency will oversee the stress test, which would assess how financial companies' capital and on-hand liquidity could be affected if stocks drop and the yen spiked, according to the Oct. 21 report. The timeline for the test is not yet clear.

Mitsubishi UFJ Financial Group Inc., Sumitomo Mitsui Financial Group Inc., Mizuho Financial Group Inc. and four other domestic systemically important banks are expected to undergo the stress test, Reuters added.