Bank of Japan loses up to 3 Trillion Yen ($27bn) in stock ETFs. Decides to double annual purchases.

by SpontaneousDisorder

By the end of the crisis will central banks have just nationalized everything by buying up stocks and corporate bonds?

Who gets to vote on this socialization of the means of production?

BOJ-Held ETFs Carrying 2-3 T. Yen of Loss: Kuroda

Tokyo, March 18 (Jiji Press)–Bank of Japan Governor Haruhiko Kuroda said Wednesday that the amount of latent losses on exchange-traded funds held by the central bank is estimated at 2 trillion to 3 trillion yen following a recent stock sell-off amid the coronavirus crisis.

The estimate is based on the current levels of the benchmark 225-issue Nikkei average on the Tokyo Stock Exchange, Kuroda said at a meeting of the Financial Affairs Committee of the House of Councillors, the upper chamber of the Diet, the country’s parliament.


READ  US Industrial Production At -3.58% YoY With Capacity Utilization At 75.54% (Both Improving), Stock Market Declines On Biden’s $1.9 TRILLION Stimulus
READ  John Rubino – US Political Instability, Stock Markets, Cryptocurrencies