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To: Karen E Hoof who wrote (13975)	6/30/1998 4:16:00 AM
From: Alex	Respond to of 116796

Yen to regain trust if bank woes solved-Keidanren OSAKA, Japan, June 30 (Reuters) - The yen is likely to regain trust from financial markets if Japan finds a way to solve its banking woes, Takashi Imai, chairman of Japan's powerful business lobby Keidanren, said on Tuesday. Imai also told a news conference in Osaka in western Japan that he welcomed the government's recent idea of putting failed banks under public supervision. ''We welcomed the news,'' Imai said, referring to earlier news Prime Minister Ryutaro Hashimoto ordered the government and ruling party officials to consider a ''bridge bank'' system that would temporarily put failed banks under public supervision, ensuring that borrowers not be left in the lurch. Imai said the Chinese yuan could be devalued if the yen fell further to over 150 yen to the dollar, adding that Japan must speed up reforms in its banking sector to prevent the yen from losing further confidence of the financial markets. ''I think trust in the yen will recover once the nation's financial system is back in good shape,'' he said. On Monday, Imai had said it was hard to agree with a proposal by Sumitomo Trust & Banking Co Ltd (8403.T) that it take over only sound assets of the Long-Term Credit Bank of Japan Ltd (8303.T) in a possible merger. The Keidanren chief said on Tuesday that he did not mean to criticise the merger plan. ''What I said was that in general, all assets are due to be taken over in a sound merger.'' biz.yahoo.com