Japan considers guaranteeing all bank deposits. Finance Minister Nakagawa said he will examine what ever steps are needed to strengthen the financial system.
Japan considers guaranteeing all bank deposits, while the central bank said it may join further global efforts to boost dollar funding to strained money markets to help ease the financial crisis.
Finance Minister Shoichi Nakagawa said he will examine what ever steps are needed to strengthen the financial system.
Prime Minister Taro Aso instructed Finance Minister Shoichi Nakagawa on Monday to consider protecting deposits fully in case of bank bankruptcy to help ease depositors' concerns amid the global financial crisis, government officials have said.
Aso also told Nakagawa to consider reviving a law to inject public funds into capital bases of regional banks, they said.
The Finance Minister announced in a statement made on Monday to relax restrictions on corporations' purchase of own stocks. Also, the disclosure on information about short selling at the exchanges should be considered and in a combined effort with the Bank of Japan, the sale of public sector-owned stocks will be temporarily suspended.
In addition, consideration will be given to extending government support for the safety net with regard to life insurance companies, which is in place to protect the interest of insurance policyholders, even after the current deadline of March 31, 2009, the statement says.
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