"Loan Market Council" Established

The expansion of transactions in loan market is essential for strengthening financial facilities in Japan. The banking industry has been working to reinforce this area to make the market more convenient. Recently, the "Program for Financial Revival", has recognized the significance of invigorating the loan market. Consequently, the Financial Services Agency (FSA) has asked JBA to draft a plan to achieve the goal. At the same time, FSA also invited the Deposit Insurance Corporation, Resolution and Collection Corporation, Development Bank of Japan and Housing Loan Corporation to participate in discussing the plan.In consideration of these requests, the "Loan Market Council" was established on December 14 2002, with JBA assuming the role of Secretariat, to discuss a wide range of issues relating to the loan markets. The Council will (1) Share information on the current conditions of loan trading and steps taken by market participants thus far, (2) Discuss future tasks to invigorate the market and (3) Publish a report by March 2003.