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BANK OF JAPAN TO IMPLEMENT NEW LENDING FACILITY FROM MARCH 16.
TOKYO, March 1 Asia Pulse - The Bank of Japan announced Wednesday it will introduce the new Lombard lending facility on March 16 at its policy board meeting.
Under the new system, the central bank will lend money to financial institutions at the official discount rate for one day, but will extend lending at that rate for up to five business days upon request. If financial institutions borrow money for six days or more, the interest rate will be 2 per cent above the official discount rate, ...
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Source: HighBeam Research, BANK OF JAPAN TO IMPLEMENT NEW LENDING FACILITY FROM MARCH 16.