A key government economic panel compiled Friday a list of reform priorities centered on a strategy to accelerate the cleanup of banks' problem loans and assist corporate restructuring.

The Council on Economic and Fiscal Policy also finalized the same day a longer-term time frame for Prime Minister Junichiro Koizumi's structural reform policies, which were outlined in a reform blueprint in June.

The panel decided at Friday's meeting to introduce more rigorous inspections of financial institutions by the Financial Services Agency.