Last week, the Harvard Law School Program on International Financial Systems held its annual Symposium for Building the Financial System of the 21st Century: An Agenda for Japan and the United States. The event addressed the need for financial restructuring in Japan, particularly the importance of dealing with bank non-performing loans, improving the management of banks, and restructuring corporate debt.

The symposium featured speeches from Deputy Treasury Secretary Kenneth W. Dam, Chairman of the Council of Economic Advisors R. Glenn Hubbard, Minister of Financial Services Hakuo Yanagisawa, and Vice Minister of Finance for International Affairs Haruhiko Kuroda. Also participating were the heads of major U.S. financial firms doing business in Japan, representatives from the major Japanese financial firms, and leading U.S. and Japanese academics on finance.

The Symposium is organized by the Harvard Law School Program on International Financial Systems, directed by Professor Hal S. Scott, and the Japan Forum on International Relations, Inc.

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