U.S. Bank Failures Unlikely to Have Grave Impact on Japan: Matsuno

Tokyo, March 13 (Jiji Press)--Chances are “not high” that the collapses of U.S. banks including Silicon Valley Bank will have a grave impact on the stability of Japan’s financial system, Japanese Chief Cabinet Secretary Hirokazu Matsuno said Monday.

That is because Japanese financial institutions generally maintain ample liquidity and capital bases, Matsuno, Japan’s top government spokesman, told a press conference.

At the same time, Matsuno said the government will closely monitor economic and financial market developments in and outside Japan and how they will affect Japanese financial institutions.

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