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INTERVIEW: FSA's Endo Urges Regional Banks to Promote Reform

INTERVIEW: FSA's Endo Urges Regional Banks to Promote Reform

   Tokyo, Oct. 7 (Jiji Press)--Regional banks in Japan should promote reform to overcome difficulties instead of relying on outside help, Financial Services Agency Commissioner Toshihide Endo said in a recent interview.
   "It is important (for regional banks) to come up themselves with corporate philosophies that will make their local regions rely on them, leading to the establishment of a sustainable business," Endo said.
   "If (regional banks) seriously think about business projects that create relationships of trust over the long term, it will be possible to secure margins," he said.
   The commissioner said that regional banks are now acting as if they are "seeking salvation," waiting for external circumstances to improve or for regulators to give instructions for reform.
   Endo's comments come at a time when regional banks are suffering from the effects of falling populations and ultralow interest rates.

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AFP-JIJI PRESS NEWS JOURNAL


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