30 August 2001, 09:01 Japan's major banks to sell 10 trln yen of cross-held shares - report
TOKYO (AFX-ASIA) Japan's 15 major banks are likely to unload a
total 10 trln yen in cross-held shares before the September 2004 start
of new banking rules, the Nihon Keizai Shimbun reported, citing the
Financial Services Agency's banking reform proposals submitted to the
government.
The FSA is proposing rules to limit banks to holding shares worth
no more than their net worth to insulate them from volatile stock
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