The Bank of Japan starts a new lending system Lending over 3 trillion yen to banks, etc. March 24 21:21
The Bank of Japan has launched a new loan system to support companies affected by the spread of the new coronavirus, and has lent more than 3 trillion yen to banks and shinkin banks on the 24th. The aim is to support the company's cash flow at the end of the year when a lot of money is needed.
This month, the Bank of Japan introduced a system to lend money at a 0% interest rate to private financial institutions that financed companies whose sales were declining due to the spread of the new coronavirus.
On the 24th, the first loan based on this system was made, and a loan of 3,396.8 billion yen, which was applied by banks and shinkin banks, was decided. The repayment is due three months later.
The BOJ is working with government-affiliated financial institutions to support companies that are having difficulty financing due to the decline in sales due to the spread of infection, as the end of the fiscal year, when companies need a lot of funds for settlement, etc. is approaching. We will continue to lend as needed.