Hayami: Financial systems more stable than 1998

JAPAN - Bank of Japan Governor Masaru Hayami said Thursday 4 October that Japan's financial system is much more stable than it was in 1998, when the nation came to the brink of a full-blown financial crisis.

"Stability of the financial system now is much better than it was then," Hayami told the Lower House budget committee.

Structural reforms planned by Prime Minister Junichiro Koizumi would likely help to improve the financial system in the future, he said.

However, Hayami said the issue of fi

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