Naotaka Saeki, president of Sanwa Bank, resigned as a counselor to the Bank of Japan on March 13.

Saeki offered to do so when he stepped down as chairman of the Federation of Bankers Associations of Japan in early February, according to Sanwa. The large commercial bank was named in a bribery case involving Finance Ministry officials at that time. Prosecutors recently said Sanwa also bribed a BOJ official.

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