BOJ buying US$11bn worth of bank shares
04-02-2009
The Bank of Japan is to buy up to US$11-billion worth of shares held by Japanese banks, to ease the pain from the global financial crisis. The move revives a scheme launched earlier in the decade to head off a banking crisis. Global market tensions and falling stock prices have hurt the balance sheets of Japanese banks and their ability to lend, adding to the pressure on an economy already slipping deep into recession.
