House Approves Bill to Create Largest Bank
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From Times Wire Reports
Japan’s lower house of parliament narrowly approved legislation to create the world’s largest bank.
The bank will emerge from the privatization of Japan’s sprawling postal service, which controls $3 trillion in savings and insurance deposits. Under the legislation, it would be privatized by 2017.
The bill goes to the upper house, but the lower house could override any rejection there.
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