Japan's central bank to purchase bank-held shares amid financial crisis

Special Report:Global Financial Crisis

TOKYO, Feb. 3 (Chinese media) -- The Bank of Japan (BOJ) decided Tuesday to

purchase 1 trillion yen (about 11.2 billion U.S. dollars) worth of shares held

by financial institutions.

The BOJ said it hopes that the purchase will help improve their balance

sheets hurt by plunges in stock prices amid the global financial crisis.

The emergency measure will be effective until the end of April 2010, said

the central bank.

Between 2002 and 2004, the BOJ adopted a similar policy and bought

bank-held shares worth 2 trillion yen (about 22.4 billion U.S. dollars).