The lending capacity of Europe’s rescue fund may drop by 35 percent if France’s AAA credit rating is downgraded, because the action will hurt the nation’s ability to guarantee debt issued by the fund, according to Mizuho Corporate Bank Ltd.
Akbank TAS, the Turkish bank part- owned by Citigroup, signed an agreement with Mizuho Corporate Bank Ltd., a unit of Mizuho Financial Group Inc., Japan’s third- largest lender by market value, to cooperate in commercial and investment banking.
The Philippine peso is set to defy efforts to curb its gains as Schroder Investment Management Ltd. and Mizuho Corporate Bank Ltd. say its advance is cooling inflation and the nation will exit its junk debt rating.
The euro rose to the strongest in almost a month as official projections showed pro-bailout parties won enough seats to control Greece’s parliament, easing concern the country would be forced from the currency bloc.
Mizuho Financial Group Inc. named Yasuhiro Sato as chief executive officer and will combine some functions at its corporate, retail and trust units after a computer systems failure angered depositors and regulators.
Sharp Corp., the Japanese electronics maker struggling to recover from a record loss, will get 30 billion yen ($313 million) in loans from three banks this week, three people familiar with the matter said.