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TOKYO (MNI) - Japanese corporate demand for financing via bank loans in
October was unchanged from three months ago, supporting the Bank of Japan view
that financial conditions are accommodative, according to the Bank of Japan's
quarterly survey of senior loan officers at 50 banks released Monday.
The index for corporate fund demand -- calculated by subtracting the number
of banks reporting a decline in lending from the number of those reporting an
increase -- stood at +2 in October, unchanged from July and just below April's
+3. The latest survey period was from September 11 to October 11.
Other key points from the latest survey;
--The index for demand from large companies rose to +4 from +zero while the
index for small businesses rose to +4 from +1.
--The index for fund demand expected for the next three months stood at +1,
down from +4 in the previous survey.
--The index showing household demand for funds rose to zero in October from
-2 in July due to higher housing investment and consumption, as well as the drop
in lending rates.
--The senior loan officer index for corporate fund demand hit a record high
of +43 in the October-December quarter of 2008, up from -5 in the previous three
months. The global financial crisis hurt companies' ability to borrow directly
from financial markets. The BOJ began the survey in April 2000.
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