Tuesday, 30 December, 2008

The Japanese government and the Bank of Japan are considering launching a new scheme to buy bad credit loans and other financial assets from banks using public funds, the Japanese daily Sankei Shimbun said on Tuesday. The government and the BOJ are hoping to implement the scheme by as early as the end of March; the Sankei said without quoting sources, adding that the total size of asset purchases could total around 10 trillion yen ($110.3 billion).

The scheme would be similar to measures implemented via the Deposit Insurance Corporation of Japan from the 1999/2000 fiscal year to June 2005, the newspaper said.

Source: http://www.iii.co.uk/