Termination of the Contract with Japan Post Relating to Its Maintenance of a Designated Minimum Balance with the Bank of Japan
August 23, 2007
Bank of Japan
At the Monetary Policy Meeting held today, the Policy Board of the Bank of Japan decided to terminate, on October 1, 2007, the contract with Japan Post relating to its maintenance of a designated minimum balance with the Bank, due to the dissolution of Japan Post on the same day. Japan Post Bank Co., Ltd., which will take over the business of postal savings from Japan Post, will be subject to reserve requirements.