Latest report from the ratings agency

  • banks stable but pressure on domestic profitability
  • stable outlook reflects banks' operating environment
  • asset risk, liquidity will remain stable
  • expects capital ratios remain roughly stable in 2015-16, with modestly positive loan
  • banks' profitability to decline over next 12-18 months as lower net interest income will offset incremental increases in fee income
  • yen liquidity will remain a credit strength

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USDJPY lower again at 118.72 in another swathe of US$ selling