SVB Collapse Unlikely to Have Major Impact on Japan: Matsuno

The collapse of Silicon Valley Bank is unlikely to cause significant issues for Japan’s financial system, Chief Cabinet Secretary Hirokazu Matsuno says.

• “Japanese financial institutions have substantial liquidity and capital base, and at this time we don’t think it’s likely this bankruptcy will have a major impact on the stability of Japan’s financial system,” the government’s top spokesman says in a regular press briefing
• Says the government will closely watch the economic and financial situation at home and abroad, and the impact on Japanese financial institutions
• Related Story: US Plans Emergency Measures to Backstop Banks After SVB (1)

To contact ...