Repurchase agreements and securities lending transactions accounted for as secured borrowings

12 Months Ended

Mar. 31, 2026

Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]

Repurchase agreements and securities lending transactions accounted for as secured borrowings

28. Repurchase agreements and securities lending transactions accounted for as secured borrowings

The following table shows the gross amounts of liabilities associated with repurchase agreements and securities lending transactions, by remaining contractual maturity at March 31, 2025 and 2026:


	Overnight and continuous		Up to 30 days		31-90 days		Greater than 90 days		Total
	(in billions of yen)
2025
Repurchase agreements		16,755		17,725		1,986		1,929		38,395
Securities lending transactions		1,303		302		—		70		1,675

Total		18,058		18,027		1,986		1,999		40,070

2026
Repurchase agreements		20,073		14,076		1,923		1,659		37,732
Securities lending transactions		1,771		198		—		99		2,067

Total		21,844		14,274		1,923		1,758		39,799

The following table shows the gross amounts of liabilities associated with repurchase agreements and securities lending transactions, by class of underlying collateral at March 31, 2025 and 2026:


	Repurchase agreements		Securities lending transactions
	(in billions of yen)
2025
Japanese government bonds and Japanese local government bonds		6,556		77
Foreign government bonds and foreign agency mortgage-backed securities		29,467		302
Commercial paper and corporate bonds		734		—
Equity securities		902		1,296
Other		736		—

Total (Note)		38,395		1,675

2026
Japanese government bonds and Japanese local government bonds		6,276		15
Foreign government bonds and foreign agency mortgage-backed securities		27,984		252
Commercial paper and corporate bonds		835		—
Equity securities		989		1,801
Other		1,648		—

Total (Note)		37,732		2,067

Note:

The above table does not include

securities-for-securities

lending transactions of ¥125 billion at March 31, 2025 and ¥

billion at March 31, 2026, where the MHFG Group acts as lender and receives securities that can be sold or pledged as collateral. In these transactions, the Group recognizes the securities received at fair value within Other assets and the obligation to return those securities as a liability within Other liabilities.

The MHFG Group is required to post securities as collateral with a fair value equal to or in excess of the principal amount of the cash borrowed under repurchase agreements. For securities lending transactions, the Group receives collateral in the form of cash. These contracts involve risks, including (1) the counterparty may

fail to return the securities at maturity and (2) the fair value of the securities posted may decline below the amount of the Group’s obligation and therefore the counterparty may require additional amounts. The Group attempts to mitigate these risks by entering into transactions mainly with central counterparty clearing houses which revalue assets and perform margin maintenance activities on a regular basis, diversifying the maturities and counterparties, and using mainly highly liquid securities.