Japan’s Megabanks See Basel Rules Adding Fairness to Global Race

Japan’s biggest banks led by Mitsubishi UFJ Financial Group Inc. may benefit from being deemed too big to fail as global regulations make competition “fair and square,” the nation’s new banking lobby chief said.

The rules “are aimed at putting the knife of reform into some global banks, which have been managing their business recklessly in pursuit of short-term profit, drastic dividend payouts and skyrocketing paychecks for bankers,” said Katsunori Nagayasu, chairman of the Japanese Bankers Association and president of Mitsubishi UFJ.