Japanese banks hike BoJ deposits by 12%

Deposits at central bank hit three-year high at end-March, as lenders sought safe haven amid wider turmoil

At the end of March, Japanese banks recorded their highest amount of deposits at the Bank of Japan (BoJ) since at least 2020, a Risk Quantum analysis has found.

Across five banks analysed, deposits at the nation’s central bank rose from ¥220 trillion ($1.56 trillion) to ¥246 trillion in the first three months of 2023, a 12% rise which was the largest quarterly increase since at least 2019.

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