The Financial Services Agency is considering maintaining full government protection for ordinary deposits beyond April 1 on condition that the deposits earn no interest, FSA sources said Thursday.
This marks a reversal from the government's earlier plan to impose a 10 million yen cap per bank per depositor on guarantees for ordinary deposits at banks that collapse after April 1. A similar cap was imposed on time deposits this past April.
Under the FSA's latest plan, customers who choose not to forfeit the interest on their bank accounts would have to accept the new guaranteed refund limit.