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By Zuhayr Mikdashi (eds.)

Presents the regulations and methods of a wide-ranging workforce of ministerial personalities, important bankers, regulators and leader or senior executives of significant monetary and business teams. Their imaginative and prescient of the long run is predicated on their high-level experience.

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Extra resources for Financial Strategies and Public Policies: Banking, Insurance and Industry

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1 Net worth ratio of large companies in Japan and the US 100 90 80 70 E 60 .. u :. 5 FYl98&-89 Note: Large corporations are those with capital of ¥1 billion or more. Source: Ministry of Finance, Quarterly Report on Corporate Statistics. 2. The increase in the share of fund-raising by means of securities in corporate finance is an inevitable by-product of the development of capital markets, and reflects growing economic maturity and the 23 Hideo Ishihara Japan us Note: Figures are at the end of 1989.

Therefore it seems evident that those banks with an established ability to produce and compile appropriate information on various aspects of the economy will playa leading role in the banking sector, Hideo Ishihara 29 where division of labour among banks is expected to grow in the coming years. In conclusion, the tide of financial securitisation is expected to make headway in Japan in response to the needs of investors, fund users and financial institutions themselves. The revision of Japan's financial system is in its last stage, and banks are already prepared to enter into the securities business through separate subsidiaries.

Cultural and other differences between banking and insurance however must not be overlooked or difficulties will result. Overall the industry will have to demonstrate a willingness and enthusiasm for change; they will need to take a longer-term and more mature outlook and demonstrate increased professionalism. It goes without saying that they must get their products and their pricing right - especially with new products - if they are to remain viable, and they must keep their solvency and reserves under constant review.

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