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Govt Buys Back over 400 B. Yen in Loans from Aozora Bank.
(From Jiji)
Tokyo, Sept. 30 (Jiji Press)--The Japanese government has bought back a total of over 400 billion yen in soured loans from Aozora Bank in terms of principal under a loan warranty provision expiring Tuesday, informed sources said.
Aozora obtained the loan warranty privilege when the bank was established in September 2000 to take over the operations of nationalized Nippon Credit Bank. NCB was placed under state control following its collapse in December 1998.
The loans in question, extended to more than 100 firms, were bought back through Deposit Insurance Corp., the government-backed banking …
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