Wall Street push by Japanese banks under scrutiny as rates rise

The success of Japanese banks in taking on Wall Street to offer loans in the United States is attracting the attention of regulators as the cost of dollar funding rises.

Faced with ultra-low interest rates and lukewarm loan demand at home, Japanese banks have stepped up corporate lending and overseas bond underwriting. The biggest, Mitsubishi UFJ Financial Group, is on course to overtake Goldman Sachs Group to crack the top five for US loans this year.

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