The Finance Ministry said June 18 that it would exclude Dai-Ichi Kangyo Bank from participating in the bidding and underwriting of government bonds for an indefinite period of time beginning with the next bond issue, which is expected sometime early next week.
Dai-Ichi Kangyo is currently embroiled in a major scandal involving illegal loans to a “sokaiya” corporate racketeer. Ministry officials said the bank is an inappropriate choice for handling government bonds.
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