As an indication of the cozy relationship between the Finance Ministry and financial institutions, 164 former ministry bureaucrats now serve as executives at such firms, it was learned Tuesday.

A list of former ministry officials who landed executive posts at banks, brokerages and insurance companies was submitted Tuesday to the Lower House Finance Committee.

"It is a major problem that former Finance Ministry officials take high positions at private financial institutions that the ministry supervises," said Motohisa Ikeda from the Democratic Party of Japan. "The list confirms our suspicion of their collusion."

Senior bureaucrats often find employment after retirement with private companies formerly under their jurisdiction -- a practice known as "amakudari," or descent from heaven. Ikeda called for a ban on amakudari.

The positions mentioned in the list were as of the end of June for banks and the beginning of August for insurance companies. Although opposition parties had demanded that the Finance Ministry disclose all the names of former officials who work for financial institutions, the ministry only released the names of those in executive positions. The list also does not include those who worked for credit unions.

A total of 117 former officials took positions at banks; one at a city bank, three at long-term credit banks; two at trust banks and 111 at local banks. As for the securities and life insurance sectors, 25 former officials are now executives at brokerages, 13 others at life insurance firms and nine at nonlife insurers.