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Strategies & Market Trends : JAPAN-Nikkei-Time to go back up? -- Ignore unavailable to you. Want to Upgrade?

To: fut_trade who wrote (893)	4/13/1998 8:18:00 AM
From: fut_trade	Respond to of 3902

TBS says BOJ overpaid staff 50 bln yen over years TOKYO, April 13 (Reuters) - The Bank of Japan (BOJ) overpaid its staff by some 50 billion yen over more than a decade by overstating the number of its employees, the Tokyo Broadcasting System reported on Monday. The television station quoted unnamed BOJ officials as saying the overpayments amounted to several billion yen in some years and that, although the amounts had fallen, the practice continued. A BOJ spokesman denied the report, saying the central bank reported personnel numbers to the Ministry of Finance every fiscal year and had never inflated the figure. TBS said the BOJ started the practice in the mid-1980s and that the central bank began to ''restrain'' it in mid-1992, when Japan's economy started to falter, the network said. BOJ Governor Masaru Hayami, who was appointed only last month after a scandal involving BOJ officials allegedly leaking confidential information, said he was not aware of any overstaffing. ''No, I don't know. I have never heard of such a thing,'' Hayami told TBS.