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Merger of Three Japanese Banks Unlikely Before Autumn 2000

The planned merger of Dai-Ichi Kangyo Bank, Fuji Bank and Industrial Bank of Japan is unlikely to be completed before Autumn 2000, market sources say. These sources add that all three are active participants in the FX market, so there is likely to be a good deal of overlap in terms of customers.

The combination is also likely to further squeeze liquidity in the dollar/yen market, which could lead to increased volatility, say these sources.

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