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Gold/Mining/Energy : Gold Price Monitor

GDXJ 94.04

+0.6%

4:00 PM EST

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To: John Hunt who wrote (26523)	1/20/1999 7:20:00 AM
From: John Hunt	Read Replies (1) of 116764

Japan banking sector shakeout picking up speed << Japan's feeble banking sector is likely to see a flurry of mergers and tie-ups in the coming weeks as regulators get serious about clearing up its massive bad loans, analysts and financial sources say. The industry shakeout gained momentum on Wednesday when Sanwa Bank and Toyo Trust & Banking said they had agreed to study a broad business alliance, a day after two major trust banks unveiled a merger plan. The head of the Financial Revitalisation Commission, Hakuo Yanagisawa, made it clear that the government will try to speed up restructuring efforts, pressing major banks to complete the disposal of their problem loans by the end of March. ''We want major banks to finish their bad-loan liquidations by the end of this business year on March 31,'' the chief of the regulatory body charged with rehabilitating Japan's sick banks told reporters. ''We cannot procrastinate in coming to grips with the bad debt issue any further.'' -- cont'd -- >> biz.yahoo.com

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