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To: lorne who wrote (2819)	11/6/1997 9:15:00 PM
From: lorne	Read Replies (1) \| Respond to of 116822

If Japan goes under do you think the rest of us will follow.<Picture> Bad loans total 935.6 bil. yen at 9 govt financial bodies ------------------------------------------------------------------------ Yomiuri Shimbun The amount of bad loans at nine government-affiliated financial organizations, including the Japan Development Bank, totaled 935.6 billion yen as of March 31, the government's audit board said Thursday. The figure is up about 66 billion yen, or approximately 8 percent, from March 31, 1996, according to the Board of Audit. The loans were extended by the nine financial institutions and have gone unpaid for at least six months. The other eight institutions are the People's Finance Corporation; the Housing Loan Corporation; the Agriculture, Forestry and Fisheries Finance Corporation; the Small Business Finance Corporation; the Hokkaido-Tohoku Development Finance Corporation; the Environmental Sanitation Business Financing Corporation; the Okinawa Development Finance Corporation and the Export-Import Bank of Japan. The audit board will include the uncollectible loans in its fiscal 1996 inspection report, to be presented to Prime Minister Ryutaro Hashimoto next month. As part of its plan to begin streamlining public corporations in 1999, the government decided in September to abolish or merge 12 government-affiliated financial institutions, including the Japan Development Bank, the Hokkaido-Tohoku Development Finance Corporation and the People's Finance Corporation. The nearly 1 trillion yen in bad loans is believed to be a result of the prolonged economic slump. Some economists predict that the outstanding funds will remain a major problem even after the institutions are reduced. Among the nine corporations, the People's Finance Corporation had the largest amount of bad loans for the second consecutive year, with 216.1 billion yen in outstanding loans.