Japanese banks seek to avoid disclosure

JAPAN - Japan's banks are seeking to avoid revealing potential losses on their derivative portfolios by lobbying regulatory authorities to postpone legislation that forces them to disclose the market value of their positions.

The financial strength of the banks - which hold massive securities portfolios - has been undermined by weakness in the stock market, and it is feared disclosing derivative losses will further undermine confidence in the system.

The Japanese Bankers Association, the indust