• Speeches and Material

September 12, 2001
Financial Services Agency

Statement by Hakuo Yanagisawa, Minister for Financial Services

  1. In response to the multiple terrorist attacks against the U.S. last night, Japan time, the Financial Services Agency (FSA) established a special task force headed by FSA Commissioner Shoji Mori on 23:30, September 11, 2001.
  2. The FSA will closely work with the Bank of Japan (BOJ) and foreign financial authorities to tackle the situation in an adequate manner and take every precaution to maintain the financial system.
  3. The Japanese stock market and financial futures market were opened as usual today, due to the need to sustain the reliability of the Japanese markets and in consideration of the fact that trading generally took place as usual at markets in Europe.
  4. In order to prevent unexpected turmoil in the stock market, we have been informed that the Tokyo Stock Exchange, etc. have reduced the daily price limits (the parameters within which prices may fluctuate) by 50%.
  5. Market participants are asked to remain calm.

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