Press Conference by the Commissioner

(Excerpt)

May 12 , 2003

Q.

Financial System Council (the Second Subcommittee) had a meeting today to discuss the lowering of guaranteed interest rate of existing life insurance products. I understand that Financial Services Agency (FSA) has been studying the issue from a broad perspective. As a result of today's discussion at the council, it seems that FSA marked the concrete step toward the enactment of the bill. Will you make a comment on this issue and time schedule as well as your prospect for the submission of the bill?

A.

Concerning the issue, we submitted a summary of major points of discussion in the past to a relevant committee of a ruling party, and the committee discussed the issue. The Second Subcommittee of the Financial System Council discussed the issue further today. We understand that ruling parties will have further discussions on the issue. We will consult ruling parties about the issues including documents to be used for the discussion in their meetings and time schedule, and consider appropriate actions.

Site Map

top of page