Credit culture and disclosure are being improved, and prudential standards are being strengthened, for instance in risk concentration, connectedlending and liquidity management.
Since Japan is struggling to free itself from a banking crisis caused partly by widespread connectedlending (thanks to the system of corporate groups known as keiretsu, today's variant on the zaibatsu), Mr Ochi's preferences seem most peculiar.
Nevertheless, lawyers not connected with either the Entwistle or Milberg firms say the issue of pricing and the mechanics of the securities-lending business are ripe for investigation.