Press Conference by ASO Taro, Deputy Prime Minister, Minister of Finance, and Minister of State for Financial Services

(Excerpt)

(Tuesday, April 7, 2020, 6:36 pm to 6:55 pm)

[Opening remarks:]

With COVID-19 (novel coronavirus) infections continuing to spread, the government today has declared a state of emergency. We will request that financial institutions, stock exchanges and other such institutions within the areas subject to this state of emergency strive to prevent any further spread of infections and take suitable steps that allow them to carry on necessary operations and thereby maintain financial, market and other functions.

Even with the state of emergency in place, banks and similar institutions will continue providing the general public with deposit and savings, foreign exchange, bank draft, remittance, loan, ATM and other customer services to enable both individuals and companies to manage their finances. As you know, Japan’s financial system is quite stable in relative terms, and the Financial Services Agency will be collaborating with relevant institutions as needed and responding appropriately to ensure that financial system functions as well as financial and capital markets are not seriously impaired whatever the circumstances. There has been talk that these institutions have shut down, but this is not the case and we ask everyone to remain calm and act sensibly.