Q. Just hearing the terms "Financial system reformation" or the "Big Bang" leaves one with only a vague image, so it is a bit hard to grasp just what influence the "Big Bang" will have on us and just how our daily life will change because of it. With the realization of these reforms, speaking concretely, what sort of merits can be expected in the common person's daily life?
A. With these reforms we are aiming for something with sufficient functions to optimize Japan's financial market into, a place for their assets management, as a place for the capital procurement for enterprises, especially new industries, and moreover, as an international finance center.
With the realization of these reforms, in addition to making easier the asset management that the majority of people have until now felt as inconvenient, it will become possible to use a variety of financial services at costs in accordance with needs, and it is felt that there will be a realization of a financial market that will be user-friendly for the people.
Moreover, with these reforms, the vitalization of the Tokyo market will, it is
speculated, spur on employment and in various sectors provide good influences on Japanese
economy.
Q. It is understood that by the year 2001, the Japanese version of the "Big Bang" indicates the undertaking of reforms over a wide range; is there any possibility that such sudden and drastic reforms may have an adverse effect upon the management of financial institutions?
A. It is considered that with these reforms, since it will become even more possible for any and all Japanese financial institutions, by making use of their innovativeness to provide a variety of financial services in meeting the clients' needs which will help in the creation of more business chances.
Since the direction from the Prime Minister Hashimoto requests that because these
reforms must proceed alongside the rapid disposal of bad loans, there must be the utmost
care given provide stability in the financial system on the whole. Thus, it is felt that
these reforms will proceed keeping these points in mind.
[About the financial system reformation (The Japanese version of the Big Bang)]