Japan kicks off loan securitisation programme


The Japanese government plans to securitise Yen300 billion ($3.74 billion) a year in loans made to public institutions, in a move bankers in Tokyo say will not flood the market with paper over the next few years. The main aim is to reduce exposure to the risk of a higher future interest rate, according to the Ministry of Finance.

"We think the first issue will materialise in the very near future and the first one is likely to be a small one," says Hiraku Kusaka, a credit derivatives structurer in

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