INTERVIEW: FSA Chief Calls on Regional Banks to Strengthen Finances

Politics

Tokyo, Aug. 4 (Jiji Press)--Japanese regional banks should step up efforts to improve their finances to better serve local economies, Junichi Nakajima, new commissioner of the Financial Services Agency, said in an interview Tuesday.

Regional financial institutions should "improve their finances steadily with a time frame," said Nakajima, who assumed the post in July.

He said, "Regional financial institutions continue to face difficult business environments such as population declines and low interest rates."

The commissioner said those financial institutions themselves "need to have strong resources" to support businesses, including those hard-hit by the COVID-19 pandemic.

The FSA "will thoroughly communicate and support" regional financial institutions regarding their reform efforts, including mergers, Nakajima said.

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Jiji Press