Printer Friendly

Top MOF official says major banks do not need public money now.

TOKYO, April 15 Kyodo

Vice Finance Minister Toshiro Muto said Monday the results of the Financial Services Agency's (FSA) special bank inspections show there is no immediate need to inject public funds into Japan's major banks to bolster their capital bases.

The results ''have shown the major banks have sufficient capital, and I believe they do not need public funds now,'' Muto said at a regular news conference.

The FSA said last Friday that its special bank audit found the capital adequacy ratios of the major banks operating internationally as of the March 31 end of fiscal 2001 were in the 10% or 11% range.

The Basel-based Bank for International Settlements requires banks operating internationally to have capital equal to 8% of their risk-weighted assets.
COPYRIGHT 2002 Kyodo News International, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2002 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Japan Policy & Politics
Date:Apr 22, 2002
Previous Article:Gov't ordered to pay 66.8 mil. yen in Univ. of Tokyo poisoning.
Next Article:Japan, U.S. to hold working-level security talks Tues.

Related Articles
Hashimoto calls central bank scandal 'regrettable'
MOF holds 1st regular meeting with bankers
Ex-MOF bank inspector gets suspended term for bribery
155 ex-MOF, BOJ officials on regional banks' boards.
Former senior MOF official gets suspended prison term.
MOF opens probe over alleged window-dressing at NCB.
MOF norms led LTCB to dress up balance-sheet figures.
Legislators file complaint over MOF's rescue of NCB.
MOF's bond sale draws strong interest, fetches negative rate.
Kyodo economic news summary -8-.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters