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Gov't to have banks put up capital for stock-buying body.

Publication: Japan Weekly Monitor
Publication Date: 18-JUN-01 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
TOKYO, June 14 Kyodo

The government plans to have banks put up all the capital for a planned stock-purchasing body designed to absorb the shares which banks have in nonfinancial companies, according to a draft of the scheme released Thursday.

The draft was presented the same day by the Financial Services Agency (FSA) to the three parties in the ruling coalition -- the Liberal Democratic Party, New Komeito party and New Conservative Party, coalition officials said.

The planned body would be allowed to buy banks' cross-held shares in nonfinancial firms until September 2006, the officials said.

Japanese banks...

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