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Japan: 8 Financial Industry Bodies to Seek Review of Postal Reform Bill
Source: japantoday.com
Source Date: Monday, May 24, 2010
Country: Japan
Created: May 24, 2010

Eight financial industry bodies will issue a joint statement to call for a review of a bill to scale back the planned privatization of state-owned Japan Post Holdings Co, informed sources said Tuesday.

The representatives of the groups, including the Japanese Bankers Association and Regional Banks Association of Japan, will hold a press conference possibly on Thursday to express concerns over the bill, which features doubling the deposit cap at the Japan Post group’s banking unit to 20 million yen. They are expected to tell the press conference that the rise in the cap could lead to destabilizing the overall financial system, according to the sources.
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