TOKYO Oct 14 The Bank of Japan said on Tuesday
it would stop selling stocks purchased from financial
institutions temporarily after Tokyo stock markets became
The measure came along with a range of steps to improve money
market operations in the wake of the recent global financial
market turmoil, announced after an extraordinary policy-setting
BOJ Governor Masaaki Shirakawa told a news conference that
the timing of resuming the sales will depend on market
conditions, adding that he has no date in mind.
The Ministry of Finance earlier said the government would
also consider temporarily suspending the sale of public
sector-owned stocks. [ID:nT216885]
Following is the text released by the BOJ on suspending stock
sales held by the central bank.
At a board meeting held today, the Policy Board of the Bank
of Japan decided to suspend, for the time being from October 15,
2008, selling stocks purchased from financial institutions on the
Japan's stock market has been unstable, reflecting the
intensified strains in the global financial markets. Against such
a backdrop, in order to gauge market developments, the Bank of
Japan has decided to suspend, for the time being, selling
purchased stocks on the stock exchanges.
It should be noted that the Bank of Japan will continue with
the disposal of the purchased stocks in the cases of buy-backs
upon the issuer's request and tender offers.
The Policy Board will make a decision when the Bank of Japan
resumes selling purchased stocks on the stock exchanges.
(Reporting by Yoko Nishikawa)