Mizuho Ordered to Report on 7th System Glitch This Year


Tokyo, Sept. 10 (Jiji Press)--Japan's Financial Services Agency has ordered Mizuho Bank to submit a report within a month on its seventh system failure this year, which occurred Wednesday, according to informed sources.

The FSA issued the order under the Banking Act, taking Mizuho Bank's repeated system failures seriously, the sources said Thursday.

The agency asked the core banking unit of Mizuho Financial Group Inc. <8411> to report on how the latest system glitch happened and how the bank plans to respond to the incident.

The FSA also ordered the parent company to submit a similar report.

At Mizuho Bank, up to some 100 automated teller machines and online banking services were shut down temporarily Wednesday morning due to a hardware failure.

[Copyright The Jiji Press, Ltd.]

Jiji Press