Bankruptcy of US banks unlikely to have a serious impact on Japan’s financial system = Finance Minister Suzuki | Reuters

TOKYO (Archyde.com) – Finance Minister Shunichi Suzuki said on March 14 that the bankruptcies of two US midsize banks were “not likely to have a significant impact” on Japan’s financial system. He said at a post-cabinet press conference the same morning. Photographed in Tokyo in December 2022. (2023 REUTERS/Kim Kyung-Hoon)

TOKYO (Archyde.com) – Finance Minister Shunichi Suzuki said on Thursday that the bankruptcy of two U.S. banks was “not likely to have a material impact” on Japan’s financial system. He said at a post-cabinet press conference the same morning.

With stock prices falling and bond prices rising in the financial and capital markets, he emphasized that “the Japanese financial system is stable, although it has been pointed out that there are moves to avoid risks.”

He also referred to the Bank of Japan’s monetary policy management, saying that it was “implemented while taking into account various factors, including market conditions.” As for specific methods, he said, “I will refrain from commenting as this should be entrusted to the Bank of Japan.”

Regarding Japan-Korea relations, it is said that the future response related to the Ministry of Finance has not been decided at this time.

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