Developments in Overseas Credit Investment and Lending by Japanese Financial Institutions: An Overview Based on the Joint Survey by the Bank of Japan and the Financial Services Agency

Financial System and Bank Examination Department of the Bank of Japan and Supervision Bureau of the Financial Services Agency
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Financial System and Bank Examination Department of the Bank of Japan: Bank of Japan
Supervision Bureau of the Financial Services Agency: Financial Services Agency

No 20-E-2, Bank of Japan Review Series from Bank of Japan

Abstract: In recent years, the markets for leveraged loans and collateralized loan obligations (CLOs) -- securitized products backed by multiple leveraged loans -- have expanded in the United States and Europe, and Japanese financial institutions have increased their holdings of such products. Since 2019, the Bank of Japan and the Financial Services Agency have been conducting joint surveys to ascertain effectively the current situation of such overseas credit investment and lending by Japanese financial institutions, ensure appropriate risk management by these institutions, and share a proper assessment of the financial stability implications for such investment and lending. Based on the findings from the first round of the survey, this paper outlines the scale and characteristics of overseas credit investment and lending by major banks, whose exposure is dominant among Japanese financial institutions.

Date: 2020-06-26
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