Regulatory Alerts2023-08-24
MUFG Bank Submission on RBNZ Connected Exposures Policy Review
MUFG Bank submitted a response to the Reserve Bank of New Zealand regarding its Connected Exposures Policy Review, clarifying that as a Japanese branch it is not subject to the revised BPR210 but supports its risk management objectives. The submission details MUFG's internal policies aligned with Japanese financial laws, which enforce strict arm's-length requirements and separation of banking and securities businesses to prevent conflicts of interest. Additionally, the document outlines MUFG's compliance with specific Australian Prudential Regulation Authority provisions regarding related entities and requests that any future extension of BPR210 to overseas branches considers the adequacy of home jurisdiction regulations.
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