MUFG AMERICAS HOLDINGS CORPORATION INCREASES REFERENCE RATE FOR PRIMARY SUBSIDIARY

Rhea-AI Summary

MUFG Americas Holdings Corporation announced an increase in the reference rate for MUFG Union Bank from 5.50% to 6.25%, effective September 22, 2022. This aligns with the broader financial environment and aims to improve the Bank's competitive positioning. As of June 30, 2022, MUFG's total assets stood at $342.4 billion, with MUFG Americas holding $152.5 billion. The Bank operates 297 branches, mainly on the West Coast, providing diverse financial services.

AI-generated analysis. Not financial advice.

Positive

• Increase in reference rate from 5.50% to 6.25% enhances competitive positioning.
• MUFG Americas has substantial total assets of $152.5 billion as of June 30, 2022, indicating financial stability.

Negative

• None.

News Market Reaction – MUFG

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-0.40% News Effect

On the day this news was published, MUFG declined 0.40%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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NEW YORK, Sept. 21, 2022 /PRNewswire/ -- MUFG Americas Holdings Corporation, parent company of San Francisco-based MUFG Union Bank, N.A. (the Bank), today announced that effective September 22, 2022, the Bank's reference rate will increase to 6.25 percent from 5.50 percent.

About Mitsubishi UFJ Financial Group, Inc.'s U.S. Operations including MUFG Americas Holdings Corporation

The U.S. operations of Mitsubishi UFJ Financial Group, Inc. (MUFG), one of the world's leading financial groups, has total assets of $342.4 billion at June 30, 2022. As part of that total, MUFG Americas Holdings Corporation (MUAH), a financial holding company, bank holding company, and intermediate holding company, has total assets of $152.5 billion at June 30, 2022. MUAH's main subsidiaries are MUFG Union Bank, N.A. and MUFG Securities Americas Inc. MUFG Union Bank, N.A. provides a wide range of financial services to consumers, small businesses, middle-market companies, and major corporations. As of June 30, 2022, MUFG Union Bank, N.A. operated 297 branches, consisting primarily of retail banking branches in the West Coast states. MUFG Securities Americas Inc. is a registered securities broker-dealer which engages in capital markets origination transactions, domestic and foreign debt and equities securities transactions, private placements, collateralized financings, and securities borrowing and lending transactions. MUAH is owned by MUFG Bank, Ltd. and Mitsubishi UFJ Financial Group, Inc. MUFG Bank, Ltd., a wholly owned subsidiary of Mitsubishi UFJ Financial Group, Inc., has offices in Argentina, Brazil, Chile, Colombia, Peru, Mexico, and Canada. Visit www.unionbank.com or www.mufgamericas.com for more information.

Investor Relations:
Stan Cecala
212-782-5629

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SOURCE MUFG

FAQ

What is the new reference rate for MUFG Union Bank as of September 22, 2022?

The new reference rate for MUFG Union Bank is 6.25%, increased from 5.50%.

When did MUFG Americas Holdings Corporation announce the reference rate increase?

The announcement was made on September 21, 2022.

What are the total assets of MUFG Americas Holdings as of June 30, 2022?

As of June 30, 2022, MUFG Americas Holdings had total assets of $152.5 billion.

How many branches does MUFG Union Bank operate?

MUFG Union Bank operates 297 branches, primarily in the West Coast states.

What is the purpose of increasing the reference rate for MUFG Union Bank?

The increase aims to improve the Bank's competitive positioning in the financial market.