Jan.19.2010

Japanese Bankers Association

Opinions for “Solicitation of Opinions concerning Postal Reform” Submitted

A “Solicitation of Opinions Concerning Postal Reform” was conducted on December 21, 2009, as part of reviews being performed for the postal reform bills. In response, Zenginkyo submitted opinions to the postal reform promotion office on January 20 concerning item (2) on the direction of postal reform and future issues.

The main points are the following:

  1. Concerning the basic thinking on postal reform: Whatever direction the reviews of the Postal Savings business takes, we cannot allow the organization to conduct the same businesses as private financial institutions while still maintaining privileges granted to government enterprises. If it is to simultaneously maintain its position as a government enterprise, it should concentrate solely on supplementing the private sector.

  2. Concerning thinking on specific issues: (1) Regarding the scope of business, if the organization is to maintain its position as a government enterprise, it should not be allowed to enter new businesses. (2) Regarding inspections, supervision, etc., it needs to be inspected and maintained to the same extent as other banks, regardless of whether or not there will be government involvement after the reviews are conducted.