Alarmed at the successive failures of large financial firms -- the latest being Yamaichi Securities Co. -- the Finance Ministry said Monday it has begun studying new measures to ensure market stability and protect depositors, investors and insurance policy holders, with Finance Minister Hiroshi Mitsuzuka implying use of public money is an option.
The recent situation, in which two brokerages and one city bank collapsed during this month alone, is a cause for public concern and serves as a good lesson, Mitsuzuka reckoned. "In order to dispel fears in the market and uncertainties over the nation's economic prospects, with my responsibility as finance minister, I am determined to review all options possible," he told a news conference.
Steps could include ways to further utilize Deposit Insurance Corp. and galvanize the Compensation Fund for Deposited Securities and the Payment Guaranty System for Insurance Policyholders, he said.