TOKYO, April 21 (Reuters) - Japan's financial system has
remained "sound and resilient" despite heightened uncertainty
over financial sector jitters in the West stemming from U.S.
bank failures in March, the Bank of Japan said in its
semi-annual financial system report.
However, the report also said that vigilance against tail
risks continues to be warranted.
A bitter memory runs deep among Japanese policymakers, who
had initially underestimated the collapse of U.S. investment
bank Lehman Brothers in 2008, describing it as a "bee sting".
Eventually, the failure of the U.S. bank morphed into a full-
fledged global financial crisis.
(Reporting by Tetsushi Kajimoto; Editing by Muralikumar
Anantharaman)
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