Japan July Bank Lending Drop Same Pace As June’s -0.6% Y/Y

— BOJ: July’s -0.6% Y/Y Best Results Since +0.1% In Nov 2009

TOKYO (MNI) – Outstanding bank loans in Japan marked a 20th
straight month of year-on-year drops in July, down 0.6%, the same pace
June’s decline but improving on May and April, as corporate fund demand
increased after the March earthquake disaster, Bank of Japan data
released Monday showed.

The y/y drop of 0.6% in July to Y392.75 trillion was the smallest
fall in the current cycle and the best result since +0.1% in November
2009.

In July, outstanding loans by city banks, the largest banks in
Japan, fell 2.7% from a year earlier, the 20th consecutive month of y/y
drops, after falling 2.7% in June.

The balance of commercial paper issuance was Y10.31 trillion at the
end of July, after being flat in June. (-2.5% in May, -4.5% in April).

tokyo@marketnews.com
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