Finance Ministry’s decision July 30 to order Dai-Ichi Kangyo Bank to refrain from extending loans to new customers until the end of the calendar year was an attempt to show that it is seriously trying to tackle wrongdoing in the financial markets.
Coming on the same day as its administrative action against Nomura Securities Co., the ministry indicated that any deviation from established rules will not be tolerated, especially as the government works to implement its so-called “Big Bang” financial deregulation. There was some speculation that the bank’s punishment would be more lax than what was slapped on Nomura, but the suspension period is the same for both.
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