Japan Finance Ministry, BOJ Ready to Respond on Bank Sector Woes
- An index of Japanese banks has plunged 11% this week
- Global markets have been roiled by financial-sector jitters
Outside the Bank of Japan (BOJ) headquarters in Tokyo.
Photographer: Toru Hanai/BloombergThis article is for subscribers only.
Senior Japanese officials from the finance ministry, central bank and financial watchdog said they are ready to respond if needed in the wake of recent turmoil in the global banking industry.
A coordinated front was particularly important given possible risks during the leadership transition at the Bank of Japan, said Masato Kanda, a senior official for international affairs at the finance ministry. BOJ Governor Haruhiko Kuroda hands over the reins to Kazuo Ueda next month.