Bank of Japan boosts support for corporate borrowing

News

The Bank of Japan will accept BBB-rated corporate debt as collateral for loans for the first time, in an effort to aid companies struggling for financing.

The central bank will lend an unlimited amount at the end of this year against corporate bonds, charging interest at its target overnight call rate. Full details of the scheme will be resolved in a meeting later in December. Both operations will run until April 30 next year, after the end of the Japanese tax year.

The news came after the BoJ's

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