March 10, 1999
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| March 10, 1999 | atimes.com | |
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| Japan Economy Government urged to promote yen-based bankers' acceptance Japan Economic Research Institute urged the government to activate transactions of yen-denominated bankers' acceptance (BA) in Asia, the think tank said in a report Friday. BA is scarcely used in the money market at present. ''The government should seriously consider how to increase yen-denominated transactions in Asia,'' the report said. The Ministry of Finance set up the yen-denominated BA market in 1985 to support the short-term financing market and encourage transactions in yen. However, since trading in Asia is basically settled in dollars, businesses take foreign-exchange risks. The report also said that Japanese banks can play a greater role in the Asian economy by enhancing co-financing with the Export-Import Bank of Japan. Market liquidity of BA would be improved if the Bank of Japan purchased yen-denominated BA in money market operations, the report said. (Asia Pulse/Nikkei) | |||||||||
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