Concerning the establishment of

the "Consolidated Conference on Financial System Reforms"

1. It is essential to promote financial system reforms while keeping in mind what should be the real form of the whole of finances/securities markets of the 21st century.

As a place where there could be, when necessary, discussion concerning problems common to all councils and an exchange of opinions as well as a pooling of the conditions of all councils connected with financial system reforms, the "Consolidated Conference on Financial System Reforms" was established by representatives from all councils.

2. The first meeting of the "Consolidated Conference on Financial System Reforms" was held with the following members on January 30, 1997.

Securities Exchange Council	Shoichi Royama		Chairperson, General Subcommittee

Financial Accounting		Tetsuya Morita		Chairperson

Deliberation Council

Committee on Financial		Ryuichiro Tachi 	Chairperson

Systems Research

Insurance Council		Yasuichiro Kurasawa	Chairperson, Fundamental issue Subcommittee

Council on Foreign Exchange	Toshimitsu Ohba		Chairperson, Special Subcommittee

and other Transactions					on Law Systems

Note: In response to conditions there may be changes in the make-up of the members of the Councils appearing above.

[About the financial system reformation (The Japanese version of the Big Bang)]