Shirakawa terms measures "extremely extraordinary"

The Bank of Japan's decision earlier this month to directly provide quasi-capital funds to banks through subordinated loans was an "extremely extraordinary" measure, Masaaki Shirakawa, the governor of the central bank, has emphasised.

Shirakawa said that the central bank was concerned about the impact of a possible decline in stock prices that might weaken the capital strength of each financial institution. He said that central bank had decided to provide subordinated loans to the banks to

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