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April 2, 2008

Japan Post Bank wants ordinary deposit limit abolished

by Richard Kilner

Story link: Japan Post Bank wants ordinary deposit limit abolished

The Japanese government has been asked by the Japan Post Bank to remove the ¥10m upper limit on ordinary deposits.

However, it wishes for the non-ordinary limit to be retained.

At present regulations dictate that the combined savings limit, per depositor, of oridnary and non-ordinary deposits combined is ¥10m.

In the near future a potential revision of the regulations will be undertaken by the Financial Services Agency.

It is expected that consumers will approve of the Post Bank’s request, although it will probably be opposed by rivals.

 

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