Bank of Japan steps up support for borrowing

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 bank will lend an unlimited amount over 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, 2009. The Bank of Japan joined in October's efforts to restore liquidity to the

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