TOKYO (Reuters) – Japan’s government plans to change anti-monopoly rules to encourage the consolidation of regional banks as profits fall due to years of ultra-low interest rates and a shrinking population, the Nikkei newspaper reported on Tuesday.
The changes will be part of a government growth strategy to be announced this summer, and reflect Prime Minister Shinzo Abe’s desire to enhance transparency on rules for bank consolidation, the newspaper said.
Government - Legislation - Exemptions - Japan - Law
The government plans to introduce legislation that will provide for exemptions to Japan’s anti-monopoly law and allow regional banks to consolidate more easily, the paper said, without citing sources.
The exemptions will be in effect for five or 10 years and banks will be encouraged to consolidate within that time frame, the paper said.
Government - Legislation
The government hopes to submit the legislation to...
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