Tags: AS | Japan | Central | Bank

Japan Holds Rates, Details $33 Billion New Loan Scheme

Tuesday, 15 Jun 2010 07:16 AM

The Bank of Japan said on Tuesday it will lend up to 3 trillion yen ($33 billion) to commercial banks in a new loan scheme aimed at redirecting money to industries with growth potential.

The central bank aims to begin lending under the new scheme from August, and will accept applications from banks once a quarter until March 2012.

The BOJ said it will target loans to 18 industries including those related to environment and energy businesses, medicine and agriculture.

The BOJ kept its policy rate unchanged at 0.1 percent in a unanimous vote as widely expected.

The BOJ last month outlined the new loan program, under which it will offer one-year loans at 0.1 percent interest to banks that will fund projects in industries with growth potential.

It has since then been working out the details of the scheme, such as a cap on total lending and the deadline for application by banks.

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The Bank of Japan said on Tuesday it will lend up to 3 trillion yen ($33 billion) to commercial banks in a new loan scheme aimed at redirecting money to industries with growth potential. The central bank aims to begin lending under the new scheme from August, and will...
AS,Japan,Central,Bank
154
2010-16-15
Tuesday, 15 Jun 2010 07:16 AM
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