Japan's banking regulator surveys lenders on impact of COVID restrictions

The regulator is reportedly seeking to prevent a huge rise in bankruptices of businesses.

Japan’s Financial Services Agency is reportedly surveying regional lenders on how businesses are coping with new restrictions imposed by the government to contain COVID-19, reports Reuters, based on information from four sources with direct knowledge on the matter.

The banking regulator is reportedly seeking to forestall a spike in bankruptcies.

Whilst policymakers stress Japan’s banking system remains stable, the move underscores their concern over the prolonged and widening damage the coronavirus pandemic is inflicting on companies and banks.

“Financial institutions must do their utmost to support corporate funding,” one of the sources said. “Given the need to help regional economies revitalise after the pandemic, we must prevent a huge increase in bankruptcies.”

Japan placed 11 of its 47 prefectures under a state of emergency in January. Containment measures implemented centered on shortening business hours at bars and restaurants, as well as suspending a subsidised-tourism initiative.

Here’s more from Reuters:

Also Read

Singapore bankers to see up to 30% pay rise in 2025

Hong Kong bankers to see 15% to 20% salary hikes next year

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit