Hakuo Yanagisawa, minister in charge of financial affairs, indicated Tuesday that it will be difficult to propose legislation to establish a new government body to buy banks' shareholdings during the current Diet session.
Yanagisawa said during a news conference that the Financial Services Agency is of the same opinion as Taku Yamasaki, secretary general of the Liberal Democratic Party, who said Monday that the legislation would not be in time for the current Diet session, which runs through late June.
Chief Cabinet Secretary Yasuo Fukuda said separately that enough time should be secured for Diet discussion of the proposal, noting that a hastily crafted measure would not be able to gain the trust of financial markets.