Pledged assets and collateral

12 Months Ended

Mar. 31, 2026

8. Pledged assets and collateral

The following amounts, by balance sheet classification, have been pledged as collateral for borrowings and for other purposes at March 31, 2025 and 2026:


	2025		2026

	(in billions of yen)
Interest-bearing deposits in other banks		53		80
Trading account assets		13,688		15,159
Investments		10,522		9,452
Loans		10,056		7,205
Other assets		2,047		2,777

Total		36,366		34,674

At March 31, 2025 and 2026, the MHFG Group pledged ¥17,542 billion and ¥20,608

billion of assets, respectively, which include assets that may not be sold or repledged by counterparties. The associated liabilities as of March 31, 2025 and 2026, which are collateralized by the assets presented in the table above, are summarized below:


	2025		2026

	(in billions of yen)
Deposits		844		794
Call money and funds purchased		—		150
Payables under repurchase agreements		18,087		13,069
Payables under securities lending transactions		403		1,027
Other short-term borrowings		2,271		214
Long-term debt		576		3,888

Total		22,180		19,143

The Bank of Japan (“the BOJ”) requires private depository institutions to maintain a certain amount of funds as reserves in current accounts with the BOJ, based on average deposit balances and certain other factors. There are similar reserve deposit requirements for foreign branches and subsidiaries engaged in banking businesses in foreign countries. These amounts are deemed to be restricted cash. At March 31, 2025 and 2026, the deposit amounts maintained with the BOJ and foreign central banks, which were included in Cash and due from banks and Interest-bearing deposits in other banks, were ¥69,851 billion and ¥58,570 billion, respectively. These balances included the reserve funds required to be maintained by the MHFG Group, which amounted to ¥1,735 billion and ¥1,728 billion at March 31, 2025 and 2026, respectively.

At March 31, 2025 and 2026, the MHFG Group had received collateral that can be sold or repledged, with a fair value of ¥32,462 billion and ¥34,903 billion, respectively, of which ¥26,789 billion and ¥27,588 billion, respectively, was sold and repledged. Such collateral was primarily obtained in connection with resale or securities borrowing agreements, and was generally used as collateral for repurchase or securities lending agreements, or to cover short sales. This collateral received isn’t recognized on balance sheet, except for the securities received as collateral that the Group is permitted to sell or repledge in securities lending transactions where the Group acts as lender.