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The Japanese Main Bank SystemIts Relevance for Developing and Transforming Economies$
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Masahiko Aoki and Hugh Patrick

Print publication date: 1995

Print ISBN-13: 9780198288992

Published to Oxford Scholarship Online: August 2004

DOI: 10.1093/0198288999.001.0001

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The Role of Long‐Term Credit Banks Within the Main Bank System

The Role of Long‐Term Credit Banks Within the Main Bank System

Chapter:
(p.142) 5 The Role of Long‐Term Credit Banks Within the Main Bank System
Source:
The Japanese Main Bank System
Author(s):

Frank Packer

Publisher:
Oxford University Press
DOI:10.1093/0198288999.003.0005

This chapter examines Japanese long-term credit banks, a special class of banks which do not rely on individual deposits as a principal source of financing. While the regulatory regime has allowed long-term credit banks to act as main banks to corporations when necessary, the use and exclusivity of the privilege of issuing financial debentures has assured them of a pre-eminent role in long-term finance. This has allowed long-term credit banks to limit the risks assumed by keiretsu banks in cooperative financing, and act as main banks themselves for a large number of companies.

Keywords:   long-term credit banks, corporate financing, Japan, financial debentures, cooperative financing, main bank

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