Bank agent system has quiet start.

From: Yomiuri Shimbun | Date: April 3, 2006 | Copyright information

Apr. 3--TOKYO -- Despite the introduction this month of a banking agent system involving nonbanking businesses, a wait-and-see atmosphere prevailed among banks, major retailers, and others firms.

The lack of enthusiasm among both banks and nonbanking entities, is an obvious disappointment to Financial Services Agency, such as supermarket and convenience store chains and electric and gas utilities.

FSA officials had been upbeat about their decision to revise the Bank Law to enable banks to let nonbanking businesses serve as their agents, providing financial instruments and ...

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