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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (21084)	1/11/2005 8:38:41 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Japan Dec bank lending down 2.8 pct year-on-year; 84th straight fall Wednesday, January 12, 2005 12:25:22 AM afxpress.com TOKYO (AFX) - Lending by Japanese banks fell 2.8 pct in December from a year earlier, the 84th straight month of decline, the Bank of Japan said in a preliminary report It noted that the fall reflected weak corporate demand for bank financing Bank lending dropped 2.9 pct in November and 2.8 pct in both October and September from year-earlier levels The data shows credit demand remains weak and banks reluctant to lend. Large companies remain reluctant to borrow as they continue to focus on reducing debt, while often turning to capital markets -- selling shares or bonds -- if they do need to raise money But the decline in lending was substantially offset by adjustments for special items such as loan securitization, foreign exchange rates and write-offs of bad debt. After adjusting for such factors, lending fell by just 1.1 pct, compared to declines of 1.3 pct in both November and October, and 1.1 pct in September On an unadjusted basis, lending by banks with branches nationwide - so-called "city banks" - fell 5.1 pct in December year-on-year. That followed declines of 5.2 pct in November, 4.8 pct in October and 4.7 pct in September Lending by large regional banks rose 0.8 pct in December, after rising 0.5 pct in November and 0.4 pct in October. Such lending fell 1.1 pct in September. Lending by second-tier regional banks dropped 4.8 pct year-on-year, after declines of 4.9 pct in November, 5.0 pct in October and 0.5 pct in September Lending by credit unions fell by 0.7 pct, following declines of 0.8 pct, 0.6 pct and 0.7 pct over the three previous months, respectively forexstreet.com