trending Market Intelligence /marketintelligence/en/news-insights/trending/LKb6AY95Ia9DBGlGy0h9tg2 content esgSubNav
In This List

Sumitomo Mitsui Financial to charge fees for some accounts of overseas banks

Blog

Banking Essentials Newsletter: January 11th Edition

Blog

Banking Essentials Newsletter December 21st Edition

Blog

The Road to Basel IV: Navigating the challenge facing European banks

Blog

Basel Framework- Utilizing data to analyze the capital position of European banks.


Sumitomo Mitsui Financial to charge fees for some accounts of overseas banks

Sumitomo MitsuiFinancial Group Inc. plans to charge fees for some yen-denominated accountsof overseas banks as the Japanese megabank copes with the central bank's negativeinterest rate policy,Bloomberg News reported April 5, citing a spokesman for the bank.

The Japanese lender will apply fees to correspondent accountsof foreign banks with balances exceeding a certain level, the spokesman said. Asmall number of accounts will be affected, he said.

The two other Japanese megabanks, Mitsubishi UFJ Financial Group Inc. and , are consideringa similar move, spokesmen for the lenders said. Three major trust banks are alsolooking to charge trust account fees to some institutional investors.