BoJ plans radical share buying idea to aid banks

JAPAN - In an unprecedented move, the Bank of Japan on Wednesday said it planned to buy shares from banks directly in an effort to prop up the faltering stock market.

"The central bank must consider measures that will help banks reduce risks from their shareholdings," said Masaru Hayami, BoJ governor. Japan's largest banks hold a combined Yen40,000bn ($326bn) in equities and close their books for half-year reporting at the end of this month.

It is understood that the BoJ plans to purchase the s