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. Last Updated: 07/27/2016

Japan Eyes Bank Shares

TOKYO -- The Japanese government could decide this week what to do with the shares of major banks that it bought to strengthen the country's rickety financial system, the minister for financial reform said Monday.

The government poured 7.45 trillion yen ($61.6 billion) of taxpayers money into major banks in late March to help them writeoff huge loads of bad loans. In exchange, the government received preferred stock in the banks.

The government is now a kind of silent owner in the banks f preferred shareholders receive dividend payments first, but they don't have the right to vote for corporate officers or changes in company structure.