Japan to ease restrictions on cofinancing by overseas banks

Japan to ease restrictions on cofinancing by overseas banks Japan to ease restrictions on cofinancing by overseas banks

TOKYO — Japan will allow foreign banks without branches in the country to participate in syndicated loans that use foreign currencies, aiming to help businesses access capital to invest abroad.

Japanese law currently requires overseas lenders to have a Japanese banking license, or a physical office or personnel in the country, in order to issue loans. The Financial Services Agency intends to revise rules for syndicated loans based on discussion by an expert panel set to meet Thursday.