Japan Banks Moving Money to U.S. on Europe Crisis, Annaly Says

Europe’s sovereign debt crisis is pushing Japanese banks to focus more on U.S. money markets, Annaly Capital Management Inc. Chief Executive Officer Michael Farrell said.

“They are shutting down European operations and they are moving more of that capital and resources into the United States,” Farrell said today on a conference call following a quarterly earnings report by the New York-based real-estate investment trust, the largest that invests in mortgage debt.