Commentary: Japan used comprehensive solution for banking reform

08/6/2009 | Wall Street Journal, The

Katsunori Nagayasu, head of the Japanese Bankers Association and president of Bank of Tokyo-Mitsubishi UFJ, explains how Japan went about reforming its banking system after the collapse of its bubble economy in the 1990s. The focus was on enhanced risk management rather than increased capital reserves, he says. "The market selected which banks could survive under a system of multiple regulatory requirements, not just a capital requirement," Nagayasu writes.

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