Press Conference by Yuji Yamamoto, Minister for Financial Services

(Excerpt)

January 23, 2007

Q.

In the press, there were some reports about 200 to 300 cases in which cash exceeding ¥100,000 had been transferred from ATMs at Shinkin Banks in the Kanto-Koshinestu region. Is the Financial Services Agency (FSA) aware of these facts? Are there other similar cases? Please explain how the FSA will respond to this situation in the coming weeks.

A.

We have been informed of the incidents that arose at some Shinkin Banks where the transfer of cash exceeding ¥100,000 became possible. I will refrain from commenting on the details, as they relate to individual financial institutions. However, no major confusion has arisen at teller counters, etc. in relation to these incidents. I have been told that efforts are being made to check customers' ID at Shinkin Banks where such incidents occurred. The FSA is instructing them to strictly deal with the situation after the fact through Local Financial Bureaus, as well as instructing them to investigate the causes and put together and execute measures to prevent the recurrence of such incidents. In any case, we will first identify and scrutinize the facts, and then take all possible measures to prevent such incidents from arising again.

(End)