Press Conference by Shoichi Nakagawa, Minister of Finance and Minister for Financial Services
January 30, 2009
[Opening Remarks by Minister Nakagawa]
Following the approval of the second supplementary budget at today’s cabinet meeting, it was decided that as a crisis response measure, the Japan Finance Corporation should provide funds to the Development Bank of Japan for the purchase of instruments with a maturity of less than one year, specifically commercial paper, based on the revision of a relevant cabinet order.
[Questions and Answers]
Regarding government-affiliated financial institutions, one revision was made, as you mentioned. I think that the current organizational framework basically reflects the reality of the era of the Koizumi administration. Do you think that further reviews and revisions will be made so as to reflect the reality of the present era or that it will basically be sufficient to make only minor changes to the current framework?
During that era, I participated in the discussion on the review and revision of government-affiliated financial institutions in the capacity as the Minister of Economy, Trade and Industry. Frankly speaking, we did not foresee a situation like this. As it is not impossible to make a revision as we decided to do today...I think that it is necessary to study this matter in the future so as to enable flexible actions.
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