25 October 2002, 09:00  BoJ will start buying 2 trln yen of bank shares this year - Hayami

/www.fxserver.com/ Bank of Japan governor Masaru Hayami said the central bank will begin the process of buying 2 trln yen worth of bank shares within the current year.
"At present stockholding excesses above the banks' capital are at 6 trln yen, of which 2 trln yen worth of stockholdings will be purchased by the BoJ over the next year by market value," Hayami said.
"The purchase will begin within this year," he told the upper house budget committee.
"After the purchase, we will hold those stocks for at least five years."

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