Japan's payments clearing network was fully restored Thursday morning, two days after a system failure disrupted fund transfers at multiple financial institutions, its operator said.
Among the banks that were hit, MUFG Bank said the same day that its transaction service had returned to normal following the problem in the system operated by Japanese Banks' Payment Clearing Network that affected over 5 million transactions.
Transfers via automated teller machines, online banking and bank counters were all delayed in the first system problem to impact bank customers since the network was launched in 1973.
Child allowance payments in some municipalities and insurance payouts by some firms were delayed.
The issue detected Tuesday morning was caused by a problem in the computer system relaying transaction data between financial institutions and the clearing network.
During the disruption, financial institutions were forced to take alternative steps to transfer money without using the relay system.
The operator had been utilizing backup measures in the meantime to process transactions and attempted to restore the system on Wednesday without success.
MUFG Bank and Resona Bank, another affected financial institution, said they would complete on Thursday transactions that had been delayed by the problem.
Mitsubishi UFJ Trust and Banking, and Yamaguchi Bank were among the financial institutions affected.
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