Japanese Trust Bank Formed By Bank, Insurer Consortium.
The Master Trust Bank, which officially began operations May 9, is designed to tap a booming market in providing services to pension funds in Japan. It's also the only way that the participants could sidestep the regulatory barriers that foiled an earlier plan to form such a master bank.
The new trust bank will target opportunities to serve pension funds that have been given greater leeway in managing funds. Pending legislation would create a market for defined-contribution pension plans, similar to 401(k) plans in the United States.
The Master Trust Bank includes five major players: Nippon Life recruited Mitsubishi Trust & Banking Corp., Toyo Trust & Banking Corp., Meiji Life Insurance Co. and a lone foreign bank, Deutsche Bank.
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|Title Annotation:||Master Trust Bank of Japan|
|Comment:||Japanese Trust Bank Formed By Bank, Insurer Consortium.(Master Trust Bank of Japan)|
|Article Type:||Brief Article|
|Date:||Jul 1, 2000|
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