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Gold/Mining/Energy : Gold Price Monitor
GDXJ 128.04+0.7%Jan 16 4:00 PM EST
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To: Alex who wrote (13627)6/22/1998 2:07:00 AM
From: Ahda  Read Replies (1) of 116872
 
No help with your question Alex thank you for the post this morning. At least they are approaching from the inside not the out.

nikkei.co.jp.

Bank of Japan Ready With Funds To
Stabilize Financial Market
TOKYO (Nikkei)-The Bank of Japan is expected to inject funds into
the money market this week, signalling the bank's determination to
maintain financial stability, bank sources said. The central bank hopes to
make a preemptive strike against potential market turmoil arising from
higher interest rates and other factors tied to financial restructuring and
the liquidation of failed institutions as the government increases efforts to
clear bad loans.

Japanese Finance Minister Hikaru Matsunaga told an emergency
meeting of representatives from the Group of Seven industrialized
nations and other Asian countries Saturday that Japan will press ahead
with the disposal of bad loans held by banks in an effort to revive the
economy.

Short-term interest rates skyrocketed last autumn in the wake of the
failure of Yamaichi Securities Co. and Hokkaido Takushoku Bank. The
BOJ responded by flooding the money market with more than 20 trillion
yen in funds through the end of March 1998.

The BOJ is also prepared to offer liquidity assistance to Long-Term
Credit Bank of Japan (8303) should the need arise. Press reports that
LTCB, which is saddled with bad debt, was in negotiations on a merger
with Dai-Ichi Kangyo Bank (8311) were denied by both institutions on
Sunday. The central bank is believed, however, to be considering the
possibility of merging LTCB with another institution.

(The Nihon Keizai Shimbun Monday morning edition)
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