Home Business Japan’s MUFG flags doable $300 million loss associated to U.S. consumer By...

Japan’s MUFG flags doable $300 million loss associated to U.S. consumer By Reuters

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© Reuters. FILE PHOTO: The signboard of Mitsubishi Corp is pictured at its head workplace in Tokyo

TOKYO (Reuters) -The brokerage arm of Japan’s Mitsubishi UFJ (NYSE:) Monetary Group on Tuesday flagged potential losses of round $300 million at its European subsidiary associated to an unnamed U.S. consumer.

The potential loss doesn’t have any materials influence on the enterprise functionality of the securities arm, or its European unit, Mitsubishi UFJ Securities Holdings Co Ltd mentioned in a press release.

It didn’t title the U.S. consumer. Nonetheless, the revelation comes after world banks, together with rival Nomura Holdings (NYSE:), have been bracing for the fall-out from the downfall of hedge fund Archegos Capital.

 

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