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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.
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Publication:Japan Policy & Politics
Date:Apr 22, 2002
Words:125
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