Bank of Japan Stock Purchase Guidelines

GUIDELINES - At a regular board meeting held 11 October, the Policy Board of the Bank of Japan approved basic guidelines on the purchase of stocks held by commercial banks.

The Bank of Japan subsequently applied to the Minister of Finance and the Commissioner of the Financial Services Agency for official approval to bring the guidelines into effect, in accordance with the Bank of Japan Law.

The approval was made in response to the Bank's announcement of September 18, 2002 ("New Initiative Towa