INTERVIEW: FSA Sets Up New Team for Regional Revitalization

Politics

Tokyo, Aug. 18 (Jiji Press)--Japan's Financial Services Agency has set up a new team to support the revitalization of regional economies and communities, its new head, Toshihide Endo, has said.

The team will work to help "improve the productivity of local economies," Endo, who took up the post of FSA commissioner in July, said in a recent interview with Jiji Press. The creation of the team is part of the agency's efforts to enhance dialogue with regional banks, according to Endo.

The team will have in-depth discussions with local companies with loans from regional lenders, as well as residents and economic organizations in local communities, he said, adding that it will hold a full-fledged dialogue with regional banks based on the results of the talks with the local players.

"Through the process, we'll likely be able to see if regional banks are working for local revitalization while taking problems in their communities seriously," he said.

Noting that it is important to secure banks' financial soundness, Endo said that the FSA will continue to conduct inspections of regional banks that have problems with establishing sustainable business models.

[Copyright The Jiji Press, Ltd.]

Jiji Press