Banks should not become lax in their efforts to dispose of nonperforming loans, despite speculation that the risk of a financial crisis occurring this month has receded, Financial Services Minister Hakuo Yanagisawa said Tuesday.
"The question of whether they can survive the end of the fiscal year in March or not is a minor issue," Yanagisawa said. "We are facing a situation in which we need to continue with efforts for a while."
He also questioned the use of the expression "March crisis" when discussing the situation at Japan's financial institutions.