The Bankwatch

Tracking the consumer evolution of financial services

Reuters reporting that Mizuho Bank have no ATM access

Reuters reporting that Mizuho Bank have no ATM access and no internet banking transactions.  There are suggestions that this is not connected to electrical issues, but to bank liquidity issues.  The Bank of Japan is injecting billions ($389 bn in 3 days) into the system, and I wonder if they are winning that battle.

(Reuters) – Mizuho Bank said on Thursday that all of its automatic teller machines (ATM) throughout Japan and its Internet transaction system have stopped working.

A spokesman for Japan’s second-largest bank said the reason for the outage was not known, although he doubted its was due to this week’s power outages in the Tokyo area and eastern Japan or last week’s massive earthquake.

Shares of Mizuho Financial dropped more than 4 percent to 130 yen, although they pared losses to trade down 2.2 percent at 134 yen, in line with the benchmark Nikkei 225 average which lost 2.5 percent. (Reporting by Mariko Katsumura; Editing by Edmund Klaman

Written by Colin Henderson

March 16, 2011 at 20:35

Posted in Uncategorized

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