Japan safe from subprime threat

The Bank of Japan said on Tuesday that the country's financial institutions were unlikely to be drastically affected by the subprime crisis in the US.

"Some Japanese financial institutions have invested in U.S. subprime mortgage-related products as alternative investments," the central bank said in its monthly financial system report. "However, the share of investments in such products in financial institutions' total assets outstanding is small and, at the moment, the subprime mortgage probl

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