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Finance

Japan banks told to set aside more capital to cover stock losses

Financial regulator hopes to encourage the unwinding of cross-shareholdings

The logos of Japan's three megabanks -- Mizuho, Mitsubishi UFJ and Mitsui Sumitomo -- adorn the entrance of an ATM booth in Tokyo.

TOKYO -- Japan will require banks to more than double reserves held to prepare for drops in the value of their shareholdings, aiming to steer the institutions away from the Japanese practice of cross-shareholding relationships.

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