Press Conference by the Minister for Financial Services

(Excerpt)

November 22, 2002

In the financial sector, we are implementing the Program for Financial Revival step by step, so let me make a brief report on the latest situation. As for the development of the financial schemes to support revival of small- and medium-sized enterprises (SMEs) for exercising due consideration with respect to loans for SMEs, we decided to provide a concrete framework utilizing the trust functions of the Resolution and Collection Corporation (RCC). An explanation on this will be given through the administration staff on a separate occasion. I have been informed that RCC will make a public announcement this afternoon about the strengthening of the corporate revival functions and the enhancement of liaising with corporate recovery funds and so forth, which are under examination at RCC.

For the establishment of a market for loan claims, we will request the Japanese Bankers Association to conduct an examination with the possibility of utilizing research companies as a new structure for developing such a market. In conjunction with this, we will request the Deposit Insurance Corporation of Japan (DICJ), RCC and Government-affiliated financial institutions to participate in the examination.

In any case, we will endeavor to promptly implement the Program for Financial Revival with these in mind. We are currently working on publicizing the work schedule in a week or so.