Provisional Translation
Press Conference by SUZUKI Shunichi, Minister of Finance and Minister of State for Financial Services
(Excerpt)
(Tuesday, February 6, 2024, 8:41 am to 8:45 am)
- Q.
-
I would like to ask you about the loan business for commercial real estate in the United States. Last week, Aozora Bank was expected to run into the red as a result of increased bad-debt provisions for its real estate loans in the U.S., and its share price plunged. Please tell us your thoughts about to what extent real estate loans in the U.S. will affect banks, life insurance companies, and other financial institutions in Japan.
- A.
-
Regarding the point you just made, for the possible current effects on Aozora Bank and other financial institutions, we currently recognize that loans for the real estate industry in the U.S. account for only a small proportion of the total loans granted by Japanese banks.
Therefore, I assume that the effects of such loans on the overall financial system in Japan will be limited.
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