Peers barrage Japan's central bank chief

Article Abstract:

Japanese central-bank governor Masaru Hayami is under heavy criticism from the Japanese government following his refusal to ease credit restrictions despite the strong yen. Hayami has been under pressure to change Japan's monetary policy because the depreciation of the yen will help Japan recover from its recession. However, Hayami has refused to budge from his position, saying the central bank will respond appropriately according to economic developments. Observers note that structural reforms might be affected because attention may be diverted to criticizing the central bank.

Government expenditures, Administration of General Economic Programs, Public affairs, Currency Stabilization Programs, Economic policy, Monetary policy, Currency stabilization, Hayami, Masaru

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Big bank merger may herald breaking down of barriers

Article Abstract:

The Japanese banking industry is bracing itself for a megamerger based on the underlying logic that bigger is better. The announcement of Sakura Bank Ltd and Sumitomo Bank Ltd of a planned merger by Apr 2002 points to the breaking down of traditional business barriers. In the past, core customers of a Japanese firm came only from its own keiretsu or corporate group. Among the reasons cited by the two banks for the merger are the transformation of the industry, efficient investments in technology, faster cutting of costs and better service due to pooled strengths.

Commercial Banks, Commercial Banking, Asset sales & divestitures, Acquisitions & mergers, Banking Institutions, Depository Credit Intermediation, Bahrain, Banking industry, Evaluation, Mergers, acquisitions and divestments, Banks (Finance), Keiretsu system, Sakura Bank Ltd., Sumitomo Bank Ltd. (Tokyo, Japan)

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