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Business Briefing / Banking

UnionBanCal to receive infusion

September 26, 2009|Times Wire Services

UnionBanCal Corp. said it would receive a $2-billion capital infusion from its parent company, Bank of Tokyo-Mitsubishi UFJ Ltd., by Monday.

The money will help San Francisco-based UnionBanCal offset potential future credit losses if economic conditions result in a worst-case scenario, said Chief Executive Masaaki Tanaka.

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