The chairman of the Japanese Bankers' Association said Tuesday that banks should decide for themselves whether to accept public funds.

"Public funds are something that banks should request on an individual basis," Seiji Sugiyama said at a regular press conference.

Last Saturday, Finance Minister Kaoru Yosano asked not only regional banks but also the nation's largest banks to accept the public funds injections that are available under new legislation designed to facilitate lending.

The Japanese Bankers Association represents Japan's commercial banks. Sugiyama is also the president of Mizuho Bank, the retail banking unit of Mizuho Financial Group Inc. (8411.TO).

-By Atsuko Fukase, Dow Jones Newswires; 813-5255-2957; atsuko.fukase@dowjones.com