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
(1)Strengths - Customer base
FXYCS Agent for 61 banks (indirect participants) , of which 48 are Japanese banks. More than 2,500 overseas correspondents and more than 800 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 May 2018)
(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. 96%* STP for treasury transactions)
Accredited internal controls
- -Mizuho Bank has carried out annual external audits of our cash clearing operating procedures in line with SSAE16 guidelines in order to show our commitment to operational best-practices 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)Strengths - One-stop Service
Mizuho Bank can provide both JPY cash clearing and custody services, through just one correspondent account if requested, to allow you to more easily manage clean cash settlement and also securities related cash settlement. Please refer to Custody Services for further details.
(4) Product1 : 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.
(5) Product2 : CLS & Account Monitoring
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.
Mizuho Bank provides additional pro-active services related to short positions or held payments upon discussion.
- -This may allows you to have better control of your cash positions and related costs and allow for further control for payment release in the case of missing incoming funds, etc.
If you have any questions regarding our yen clearing services, please send SWIFT message to the following SWIFT BIC address.
SWIFT BIC: MHCBJPJT