Thursday, January 17, 2008
Japanese Banks in for a rough ride
Japanese banks' subprime valuation losses have expanded since the end of September, the head of the Financial Services Agency said on Thursday. FSA Commissioner Takafumi Sato made the comment at a regular briefing. The regulator has previously said Japanese banks' subprime exposure stood at around 1.2 trillion yen ($11.20 billion) as of the end of September.