Prime Minister Junichiro Koizumi on Friday rejected calls from senior legislators and bankers to postpone plans to cap deposit guarantees at failed banks, scheduled to take effect April 1.

Currently, demand deposits are fully guaranteed, a situation some economists say allows the decrepit banking system to put off restructuring.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.