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 4.75% to 5.50%, effective July 28, 2022. This adjustment reflects the bank's strategy to align with prevailing market trends and is crucial as it impacts the cost of borrowing for various consumer and business loans. As of March 31, 2022, MUFG Americas holds total assets of $159.2 billion. The bank provides a wide range of financial services through its 297 branches across the West Coast.

Positive

• Reference rate increase from 4.75% to 5.50% indicates alignment with market trends.
• Total assets of MUFG Americas at $159.2 billion as of March 31, 2022.

Negative

• None.

NEW YORK, July 27, 2022 /PRNewswire/ -- MUFG Americas Holdings Corporation, parent company of San Francisco-based MUFG Union Bank, N.A. (the Bank), today announced that effective July 28, 2022, the Bank's reference rate will be increased to 5.50 percent from 4.75 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 $332.4 billion at March 31, 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 $159.2 billion at March 31, 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 March 31, 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 Americas Holdings Corporation

FAQ

What is the new reference rate for MUFG Bank effective July 28, 2022?

The new reference rate for MUFG Bank is 5.50%, increased from 4.75%.

What are the total assets of MUFG Americas Holdings Corporation?

As of March 31, 2022, MUFG Americas Holdings Corporation has total assets of $159.2 billion.

How many branches does MUFG Union Bank operate?

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