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To: PaulM who wrote (25809)	1/10/1999 9:31:00 PM
From: Alex	Read Replies (1) \| Respond to of 116762

Japan Bank Assets Abroad Dip Below 100 Trln Yen; Lowest Since Mid-80s TOKYO (Nikkei)--Assets held by overseas branches of Japanese banks totaled 92.9 trillion yen in October, down some 8.4 trillion yen from September and dipping below the 100 trillion level for the first time in 15 years, the Bank of Japan reports. The figure, which represents a year-on-year decrease of about 43.57 trillion yen, is about half the peak 198 trillion yen seen in March 1990. Japanese banks are closing or scaling back operations abroad to help deal with rising bad debts and ongoing Big Bang financial reforms at home. Of the overseas assets, outstanding loans plummeted 30% year on year as many banks had their credit standings downgraded, making it increasingly difficult for them to raise funds. Cash deposits fell 60%. As of October, Japanese banks operated 371 branches abroad, down sharply from the bubble economy days when they competed heavily in overseas markets. Mitsui Trust & Banking Co. (8401) and Daiwa Bank (8319), for example, have already decided to abandon overseas operations. (The Nihon Keizai Shimbun Monday morning edition) nni.nikkei.co.jp