Banks to report on FX positions daily: Japan MOF

Major Japanese financial firms will be required to report to the government on exchange-rate positions held by currency dealers at set times on a daily basis, the finance ministry said in a briefing on Wednesday.In a package of measures to address the yens recent rise, the government said it will tell major financial institutions to report on foreign exchange positions held by currency dealers until the end of September in an attempt to strengthen monitoring of markets and ensure their stability.The monitoring is stipulated under Japans foreign exchange law. It will be the first time since 1998 that the government has asked financial institutions to report on their currency positions under the law.