Minutes of Press Conference by Kaoru Yosano, Minister of State for Financial Services and Economic and Fiscal Policy
March 10, 2009
1. Summary of Statements
First, I would like to make a statement, in my capacity as Minister for Financial Services, regarding new measures to facilitate financing.
As the end of the fiscal year approaches, not only small and medium-size enterprises but also larger companies face increasingly severe business conditions and fund-raising conditions. In light of this situation, the FSA (Financial Services Agency) has decided to take new measures, such as holding special hearings and conducting intensive inspections in order to facilitate financing.
I will now elaborate on the new measures.
*Special hearings and intensive inspections for the purpose of facilitating financing
*Revision of the risk weighting related to emergency guarantee (from 10% to zero)
*Promotion of flexible treatment of covenants
*Request for the use of market-based, indirect finance (e.g. syndicated loans)
*Promotion of the use of the Act on Special Measures for Strengthening Financial Functions
I hope that these measures will help to further facilitate corporate financing.
I would like to skip over the details, as FSA staff have already provided explanations.
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