Japan Mulls Letting Foreign Banks Join Syndicated Loans: Nikkei

Japan’s Financial Services Agency is considering allowing foreign banks to take part in domestically formed syndicated loans, even if the lenders don’t have local banking licenses, the Nikkei reported, without saying where it got the information.

Overseas banks without licenses in Japan had been restricted from participating in the loans by the Banking Act and Money Lending Business Act, the paper reported. The move will allow all foreign banks to participate in financing and will supplement loans from Japanese lenders, who have limitations to how much foreign currencies they can procure, according to Nikkei.

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