Financial Services Minister Hakuo Yanagisawa said Tuesday the Financial Services Agency will soon unveil an interim report on steps to promote the realignment of regional financial institutions.
It may be released as early as Wednesday, he said.
“The measures are aimed at helping create an environment for the financial institutions to seek mergers as a step toward improving their profitability,” he said.
The FSA is encouraging the regional institutions to seek consolidations or mergers to strengthen the nation’s financial system.
FSA Commissioner Shoji Mori said Monday the agency will extend tax and other measures and simplify procedures in order to promote realignment, although institutions should ideally seek them by themselves.
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