PRESS RELEASE


                                   25 August 1998
                            Financial Supervisory Agency 


    The First Meeting of the "Working Group on Financial Inspection Manuals"    


The first meeting of the Working Group on Financial Inspection Manuals was held
today at the Financial Supervisory Agency (FSA).

The mandate of the Group is to carry out extensive discussion towards the 
introduction of manuals and checklists on financial inspection, as envisaged in 
the "Comprehensive Plan for Financial Revitalization (2 July 1998)".  This task 
force, set up in the Inspection Department of FSA, consists of 18 members,
involving 12 external experts (see attached member list).  Professor Shinsaku 
Iwahara (Tokyo University) will chair the Group.
The Group will meet regularly, at least twice a month, to complete its work and 
publish its result by the end of the year.

The Group discussed today the outline of manuals and the timeframe of its work. 


 NB. "Comprehensive Plan for Financial Revitalization (2 July 1998)" (excerpt)  
  "3. Strengthening Bank Supervision and Prudential Standards 
   (4) Strengthening of Organizational structure for Inspection, Surveillance,     
       and Supervision
    Inspection manuals and checklists incorporating external expertise will
    be adopted for government inspections, and made public by the end of this 
     year." 

                  For further information, please contact:  
                      Toshitake KUROSAWA
                      Inspection Department, FSA
                      Phone 03-3506-6000 ext.3269 
                      Fax  03-3506-6119





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