4 November 2003, 09:18  Fukui: Need reassurance on end of deposit insurance

TOKYO, Nov 4 - Bank of Japan Governor Toshihiko Fukui said on Tuesday that Japanese banks could still fail after the government scraps a blanket scheme of deposit insurance. A new framework to inject public funds into banks was needed to reassure the public as well as financial markets about the stability of Japan's financial system, he said. "There is still the possibility of bank failures even after the end of deposit insurance," he said in a speech in Tokyo. Full guarantees on bank deposits will end in March 2005. ($1=110.84 yen)//

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