No Major Financial Disruption after Kumamoto Quake: BOJ Ueda

Tokyo, July 31 (Jiji Press)–Bank of Japan Governor Kazuo Ueda said Friday the powerful earthquake that struck Kumamoto Prefecture in southwestern Japan earlier this week has caused no major disruption to the financial system. “While some bank branches and automated teller machines have been suspended, there has been no major disruption to financial functions such as settlements and cash supply,” Ueda told a press conference. The BOJ has asked financial institutions to take steps to ensure a smooth supply of cash in areas affected by the temblor, which measured up to 7, the highest level on Japan’s seismic intensity scale. Kumamoto hosts a number of factories for semiconductors and other products while roads and other infrastructure in the prefecture suffered damage from the disaster. Asked about the economic fallout from the earthquake, Ueda said the BOJ will “closely monitor” developments including production halts. END [Copyright The Jiji Press, Ltd.]