Outstanding bank loans on rise in Japan: central bank

12:53, October 13, 2009      

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Loans held by the Japan's four main categories of banks has reached 465 trillion yen (5.184 billion U.S. dollars) in September, a rise of 1.6 percent from the same time a year earlier, the Bank of Japan (BOJ) said on Tuesday.

Excluding loan write-offs, the loan balance has climbed 2.3 percent compared to rates during the same month a year earlier.

Meanwhile, outstanding Japanese commercial paper held by banks dropped 31 percent from a year earlier, following a 27.8 percent decline in the year to August.

"Companies' demand for operating and capital expenditure funds remains at a low level, and that's causing this continued decline", said Seiichi Shimizu, associate director-general at the Bank of Japan's bank surveillance department, at a briefing in Tokyo.

Banks remain under pressure from the government to boost lending to smaller companies, even as bankruptcies hit a six-year high in the first half of this year.

Source: Xinhua
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