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. Last Updated: 07/27/2016

Japan Banks Pressed

TOKYO -- Japan's Financial Revitalization Commission on Wednesday urged the nation's banks to accelerate restructuring efforts and solve their bad-debt problems by the end of March.

"We cannot procrastinate in coming to grips with the bad debt issue any further. It must be dealt with as quickly as possible," it said in a statement.

Commission chairman Hakuo Yanagisawa said at a news conference that rebuilding a strong, competitive financial system by the end of March 2001 and restoring confidence of domestic and foreign investors was of paramount importance to revive Japan's economy.