Prepared by Mark Stone (ext. 36532) and Peter Hayward.
These comprise seven major banking groups: Mizuho Financial Group (Mizuho Bank, Mizuho Corporate Bank, Mizuho Trust Bank); Mitsubishi Tokyo Financial-Group (The Bank of Tokyo-Mitsubishi, Mitsubishi Trust and Banking); UFJ Holdings (UFJ Bank, UFJ Trust Bank); Sumitomo Mitsui Financial Group (Sumitomo Mitsui Banking Corporation); Resona Bank; Mitsui Trust Holding (The Chuo Mitsui Trust and Banking); and, Sumitomo Trust.
Withdrawal of the full guarantee for time deposits was completed in April 2002.
Insurance companies in Japan must satisfy a minimum solvency margin which is the ratio of available capital and surplus to a measure of insurance risk, assumed interest rate risk, asset management risk and operational risk.
Japan Post was used to finance the GFIs, special public corporations, and local governments via the Fiscal Investment and Loan Program (FILP). The compulsory transfer of funds from Japan Post to FILP was abolished in April 2001.