Japan Post Bank has applied for approval from the national government to handle the long-term fixed-type mortgage "Flat 35" provided by the Japan Housing Finance Agency.
"Flat 35" is a mortgage loan handled by the Japan Housing Finance Agency in collaboration with private financial institutions, and you can get a loan at a fixed interest rate for up to 35 years.
Japan Post Bank applied for approval from the Financial Services Agency and the Ministry of Internal Affairs and Communications on the 23rd to handle this mortgage.
If approved, we would like to start the service at 41 of the 233 directly managed stores in Japan after May next year.
In response to Japan Post Bank's application for approval, the Japanese Bankers Association announced a comment that it is strongly concerned that entering a mortgage without ensuring fair competitive conditions will "lead to pressure on the private sector."
The total loan amount of Flat 35 reaches about 2.3 trillion yen annually, but Japan Post Bank is expected to handle tens of billions of yen, explaining that the impact on private financial institutions will be limited. ..
Japan Post Bank will examine loans in accordance with the guidelines of the Japan Housing Finance Agency, but this is the first time for the examination work, and the risk management system will be a new issue.