Press Conference by Shozaburo Jimi, Minister for Financial Services

(Excerpt)

(Tuesday, November 9, 2010, from 8:48 a.m. to 8:52 a.m.)

[Opening Remarks by Minister Jimi]

I have nothing in particular to report to you today.

[Questions & Answers]

Q.

First, given that the G20 (Leaders Meeting) is scheduled to be held in Seoul this weekend and the subject of financial regulation will be among its agenda items, please give us your thought on what kind of discussion you are wishing to have.

A.

The Seoul Summit, or the G20 Leaders Meeting, is scheduled to be held in Seoul, South Korea, for the period of two days starting November 11, with the recovery of the world economy and financial regulatory reforms expected to be included on the list of agenda items.

As I have mentioned repeatedly until now, this issue has been talked over internationally several times at meetings of the Group of Governors and Heads of Supervision held in Basel.  The issue as to how to what to do with large financial institutions still remains to be solved, but an agreement on this issue has also, for the most part, been reached at working-level and Central Bank Governors meetings.  Accordingly, I expect that the discussion at the Seoul Summit will proceed on the continued track of that progress.

(End)

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