Japan July bank lending rises at its fastest pace on record

Data from the Bank of Japan for bank lending in the July 2020

• bank lending including shinkin (trusts) up 6.3% y/y
• 6.3% rise is fastest pace of increase on record
• regional bank lending 5.1% rise matches record high hit in July 1991
• bank lending balance, at 572.7 trln yen, is record level

BOJ official says:

• regional banks continue to boost lending to small firms, while major banks' lending somewhat slowing due to easing of big firms' fund demand