Is Japan's already fragile financial system about to realize that not even endless pumping of liquidity by the BOJ will do much when the entire country is on the brink? According to Kyodo, Mizuho is unable to complete ¥570 billion in transactions, as problems include money transfers caused by a "system glitch." Si ATMs now, shadow banking tomorrow? The last thing an already stricken Japan needs right now is to remove cash access to its citizens. And while we await more information, we can't help but wonder just how lucky the country's financial system has been so far in preventing a wholesale freeze.
Mizuho Unable To Complete ¥570 Billion Of Transactions: Money Transfers Affected Due To "System Glitch"
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