June 8, 2016 / 2:16 AM / 3 years ago

MUFG's bank unit set to withdraw as JGB primary dealer in July - source

TOKYO, June 8 (Reuters) - Bank of Tokyo-Mitsubishi UFJ is expected to give up its role as a primary dealer of Japanese government bonds as early as July, a person familiar with the matter said on Wednesday.

The move by the core banking unit of Mitsubishi UFJ Financial Group Inc reflects a shift by commercial banks away from JGBs in the wake of a negative interest rate policy launched by the Bank of Japan.

The source declined to identified as he was not authorised to speak about the matter to media. (Reporting by Tokyo Newsroom; Editing by Edwina Gibbs)

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