‘No financial crisis’

TOKYO, May 17: Japanese Financial Services Minister Heizo Takenaka said on Saturday he saw no financial crisis as a result of problems in the banking system.

Speaking after Resona Bank Inc said it planned to apply for public funds to boost its depleted capital, Takeanka said: We see no financial crisis at this point but we are concerned if the situation is left untended.

We will take pre-emptive measures to prevent a crisis.

Takenaka confirmed the government would hold an emergency meeting at 0939 GMT to discuss Resona’s request for funds. He said he saw no liquidity problems at Resona for now.—Reuters

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