Japanese Finance Minister Shunichi Suzuki said today, Wednesday, that the Japanese banking sector will not face incidents similar to the collapse of the US Silicon Valley bank (SVB) , due to the different structure of bank deposits between the two countries.
Japan's financial system is generally stable," Suzuki, who also oversees the banking sector, told parliament as banks had enough capital in reserve to counter risks.
The consequences of the collapse of the Silicon Valley bank led to continued losses in global bank stocks, as the assurances of US President Joe Biden and other policymakers did not succeed in calming the markets and prompted a rethink about the future of interest rates.
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