Yen Clearing Services


Mizuho Bank provides settlement and clearing services through all four* of Japan's major clearing systems directly and, via its long legacy of heritage banks, since the beginning of each system. This business area has always been regarded as one of our core businesses, and management has continued to provide a firm commitment for further growth and excellence in this service.

We show this commitment daily to our customers through professional and courteous customer service, value added cash management support to improve flows while minimizing costs, and proactive contact to improve the quality of messages exchanged and the resulting movement of funds.

* Foreign Exchange Yen Clearing System (FXYCS) , BOJ Net , Zengin System, Bill and Cheque Clearing Systems

 

Distinguishing Features
 

(1) Strengths - Customer base

  • FXYCS Agent for 60 banks (indirect participants) of which 47 are Japanese banks. Approximately 1,500 overseas correspondents and approximately 700 correspondent banks' accounts on our books.
  • A corporate customer base that covers approximately 70% of listed companies in Japan.
  • Branches in every prefecture in Japan.
  • Approximately 24-million retail deposit accounts.

(as of November 2019)
 

(2) Strengths - High Quality Operations

High STP (straight through processing) ratio

  • Use of advanced software allows us to realize efficient operations through automatic repairs (approx. 95% STP for treasury transactions)
     

Strong commitment to high quality services

  • Well experienced staff able to handle time-critical payments (such as CLS).
  • Fluent language support in English and Chinese at our Customer Service Desk.
  • General policy to respond to customer inquiries/requests within 24 hours of receipt, either via update/acknowledgement or final response.

 

(3) Product 1: M-GATE (online account monitoring system)

Mizuho Bank offers a proprietary account monitoring system, M-GATE, that allows for monitoring of all transactions for your accounts with us. Additionally, this service is able to monitor transactions for multiple accounts regardless of institution or entity, even "third party" accounts assuming proper permission from the respective account holder.

Note: Below is a sample screen.

capture Mizuho M-GATE

M-GATE Terms & Conditions
 

(4) Product 2: CLS

CLSTM* Yen Nostro Agent Service

  • An active CLS Settlement Member and CLS Nostro Agent.
  • Acts as a primary JPY Liquidity provider to CLS Bank.
  • Has highly experienced staff able to handle the time-critical CLS payments.
  • Able to provide the necessary intraday liquidity to ensure CLS settlement.

* CLS is a registered trademark of CLS UK Intermediate Holdings Ltd.

 

Related Links

Bank of Japan
Payments and Markets
Call Money Market Data - Uncollateralized Overnight Call Rate
Japanese Bankers Association (Zenginkyo)

 

Contact Us


If you have any questions regarding our yen clearing services, please send SWIFT message to the following SWIFT BIC address.

SWIFT BIC: MHCBJPJT

 

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