Norinchukin bank in trouble?

[pmbug]

A Credit Suisse-like Collapse is Looming in Japan

And there is no
good/easy/inexpensive way to clean up the mess

Japan's Second Largest Bank, Norinchukin, has a liquidity crisis.
Norinchukin's liquidity crisis makes it a lot harder to hide its losses

"One thing that struck me the most in the latest Norinchukin Bank financial report is the table “Summary of Performance” which you can see below.

Please take a look at the metrics for the third quarter of 2024. Do you notice anything incredible? Yes, my dear reader: EVERY SINGLE PERFORMANCE LINE IS NEGATIVE..."

“Is it possible for a bank to continue operating while being insolvent? The answer is yes, and Norinchukin Bank is the best example of it at the moment”. This was how I started my last article on Norinchukin Bank 3 months ago. This is why yesterday I wasn’t surprised at all when this breaking news hit the wires: “Norinchukin CEO Plans to Resign After Massive Bond Losses“
...
The bank has been trying to raise capital since May last year (Japan’s Norinchukin Bank eyes raising $7.7bn in fresh capital), but as I flagged already at that time, whoever could read and properly analyze the books of the bank knew they were already insolvent and hiding a massive hole. Considering how much liquidity is being printed non-stop by central banks these days and how bullish stock markets are, if Norinchukin cannot raise capital in the best possible market conditions, then its fate is sealed and in the near future it is doomed to implode unless the government steps in with a massively expensive bailout. Failure to bail out this bank will have incredible repercussions in the global financial system, similar to those that would have occurred if Credit Suisse was let to collapse. The problem here is that governments will not be able to afford to bail out all these giant banks forever, and the scary thing is so many are in this very same situation and I won’t stop warning about it.

NORINCHUKIN BANK IMPLOSION OFFICIALLY BEGINS - JustDario

“Is it possible for a bank to continue operating while being insolvent? The answer is yes, and Norinchukin Bank is the best example of it at the moment”. This was how I started my last article on Norinchukin Bank 3 months ago. This is why yesterday I wasn’t surprised at...

justdario.com

 

[Voodoo]

Yen and the carry trade is starting to show some stress. Think that's why the market Finally started to show a little weakness.

 

[nickndfl]

Last year there were some predictions that Japan could be the trigger for the next financial crunch. Lots of other countries have been lowering interest rates. Japan is so overloaded with debt 200%+ GDP that shorting the yen is a popular sport like baseball.

Japan might be better off to crash and start over with a new currency or even the $USD.

 

[Voodoo]

And right on time here comes a big hit and an excuse.



We get to try Beer Cooties 2.0 HOOZAH.

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