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Japan Post Bank given a boost
Published: 31 March 2010
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There have been some quite dramatic developments in the discussions taking place in Japan about the future of the Post Office Bank.
| Yukio Hatoyama, the Japanese prime minister, last night said the government would go ahead with a plan to double the ceiling on postal bank deposits and maintain the government's stake in the post office group at more than a third. Japan's coalition government had appeared dangerously close to collapse as a result of divisions over the post office reforms. But the cabinet yesterday unexpectedly resolved the dispute by giving the premier the final say on the issue. Mr Hatoyama's decision paves the way for the post office, which has about Y300,000bn ($3,225bn, €2,400bn, £2,160bn) in assets and holds nearly a third of all Japanese government bonds, to continue bankrolling the country's mounting public debt, which is close to 200 per cent of gross domestic product. The ceiling on postal bank deposits will climb to Y20m. |
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| Hatoyama approves Kamei's plan to double deposit cap at Japan Post Mainichi Daily News - 2 hours ago The outline proposed doubling the deposit cap at Japan Post Bank Co. to 20 million yen and raising the life insurance coverage limit to 25 million yen from ... Hatoyama Says Government Will Double Japan Post Deposits Limit - BusinessWeek Cabinet settles dispute over Japan Post - Financial Times Q+A-What is Japan Post, why is it important? - Reuters Wall Street Journal - TMCnet all 71 news articles » |
