BOJ aimed to work with government in regional bank scheme, minutes show

BOJ aimed to work with government in regional bank scheme, minutes show
Reuters
16 hrs ago
By Takahiko Wada and Leika Kihara
© Reuters/Kim Kyung Hoon
FILE PHOTO: A man wearing a protective mask walks past the headquarters of Bank of Japan amid the coronavirus disease (COVID-19) outbreak in Tokyo
By Takahiko Wada and Leika Kihara
TOKYO (Reuters) - The Bank of Japan's scheme to incentivise consolidation among regional banks was meant to show it was working alongside the government to tackle problems in the country's banking system, minutes of the deliberations showed.
The BOJ unveiled a scheme in November that pays 0.1% interest to regional banks that consolidate or take steps to boost profitability, a move critics saw as a risky deviation into industrial policy.

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