Major foreign banks in Japan operating as usual

By Kim Young-gyo
HONG KONG, March 16 (Yonhap) -- Major foreign financial institutions are operating their Japan businesses without disruption by the devastating earthquake that shook the world's third-largest economy, industry sources said Wednesday.
According to officials at the International Bankers Association, which consists of 59 commercial banks and securities firm from 21 countries, 16 major global banks have not withdrawn their business operations from Japan, denying rumors that some major banks stopped operating there.
"None of the undersigned firms has announced any business closures or evacuation of staff," the association said.
Those firms include major banking giants such as Goldman Sachs, JP Morgan, Morgan Stanley, Bank of America Merrill Lynch, UBS, Citigroup and HSBC.
"The management teams of these firms are in close communication with each other and with the government authorities including the Financial Services Agency and the Bank of Japan."
A news report said earlier that some European banks are allowing their staff to evacuate from Tokyo branches if they wish, following the 9.0-magnitude temblor and subsequent tsunami that struck Japan's northeastern coastal area last Friday.
Adding to the fears was a radiation leak confirmed on Tuesday in one of the reactors at the quake-damaged Fukushima Daiichi nuclear plant.
Some multinational companies have set up evacuation plans in Tokyo and parts of northern Japan. Others are moving operations to the southern part of the country.
China has been the first country to start a large-scale evacuation of its people from affected areas, sending buses to the four affected prefectures of Miyagi, Fukushima, Ibaraki and Iwate.