Hakuo Yanagisawa, state minister in charge of financial system revitalization measures, pledged Tuesday to accelerate efforts to solve bad debt problems.
He made the remarks in response to a statement made Monday by U.S. Treasury Secretary Robert Rubin in Washington on Japan's banking problem.
Speaking at a news conference following a Group of Seven meeting of finance chiefs and central bankers, Rubin said, "On the banking side ... there are still enormous challenges ahead, including the question of disposing of bad loans (by Japanese banks)."