Japan FSA head Endo says banks’ priority now is to support borrowers

By Stanley White Posted on July 3, 2020

FILE PHOTO: Group of 20 (G-20) high-level seminar on financial innovation “Our Future in the Digital Age” on the sidelines of the G-20 finance ministers and central bank governors meeting in Fukuoka

TOKYO (Reuters) – Japan’s Financial Services Agency head, Toshihide Endo, said on Friday the priority for the country’s private financial institutions now was to give firms some “breathing space” by supporting their funding.

But Endo said there was no change to the fact that Japan’s regional banks must reform their business models in the long run.

(Reporting by Leika Kihara; Editing by Chang-Ran Kim)