MUFG - Japan's biggest bank MUFG may lose $300M on Archegos liquidation

Mitsubishi UFJ Financial Group (MUFG) may suffer a $300M loss related to the liquidation of Bill Hwang's Archegos Capital Management.MUFG's securities said in a statement that its evaluating the extent of the loss at its European unit, according to a Bloomberg report. Any loss won't have a material impact on the firm's business capability or financial soundness.Credit Suisse (CS) may have lost $3b-$4b, according to an FT report. Nomura (NMR) said it may see a loss of $2b related to the trading of a U.S. client.MUFG down 2.8% in premarket trading. CS fell 2.6% after dropping 12% yesterday and Nomura declined 2.4% after falling 14% yesterday.Yesterday, Bank stocks pare declines as investors assess hedge fund collapse.

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Japan's biggest bank MUFG may lose $300M on Archegos liquidation