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Global Financial Service Disruptions

Zengin System (Japanese interbank clearing)

clearing settlement · JP · East Asia · Japanese Banks' Payment Clearing Network

Technical failureStatus: resolvedTier 1Severity 5 of 5Evidence confidence: highAnalyst-verified

Japan's Zengin interbank system failed on 10 October 2023 after a weekend update, disrupting transfers at roughly a dozen banks for two days. 5.06 million transactions were affected and service restarted on 12 October.

First disruption
Oct 10
First public signal
unknown
Acknowledged
Oct 10
Restored
Oct 11 23:30 UTC
Duration
not established
DFX first recorded
Nov 5 14:58 UTC

What was restricted

transfers outtransfers inScope: multi institution

Interbank transfers for customers of about 10 to 12 banks including MUFG, Resona and Shoko Chukin disrupted for two days; 5.06 million transactions affected; banks compensated fees and penalties.

Cause, kept in separate layers

What the institution said
Malfunction in relay computers connecting Zengin and member banks after a weekend update
DFX classification
Technical failure (cyber: ruled out)
Conflicting reports
Count of affected banks reported as 10, 11 or 12.

Evidence