Dialogue with Financial Institutions: Request

○ We have requested financial institutions to make prompt and flexible responses to modification of conditions for home loans fully based on customers' needs.
 
○ We understand that financial institutions have been positively modifying  home loan conditions in line with our request. The percentage of home loan conditions modified as of the end of March is as high as 94.7% for banks and 98.1% for cooperative financial institutions. Preferable practices such as the following can also be observed:
・Some financial institutions defer principal payments for up to one year or otherwise modify loan conditions without examination procedures, when receiving consultations about home loans.
 
○ However, it is expected that in June, when many companies pay bonuses, consultations about the postponement of repayment will increase from borrowers of home loans with bonus payments. Therefore, we further ask financial institutions to actively offer support to customers by deferring principal payments for a sufficient period of time or otherwise modify loan conditions promptly depending on customers' needs, and refraining from charging fees for modification of loan conditions, as seen in the aforementioned preferable practices.
When modifying loan conditions, financial institutions are requested to take a positive stance, such as making proposals on concrete modifications while giving due consideration to customers' needs.
 
○ As customers' consultations about modification of loan conditions are expected to increase toward June, financial institutions are also requested to put in place telephone services dedicated for home loans or consultation offices (such as a home loan plaza) also available on holidays and to broadly disseminate information on such services to help customers make consultations easily. We request further cooperation from all financial institutions including those that have already developed dedicated services.
 
○ Additionally, please actively respond to customers' consultations on other personal loans (education loans, car loans, renovation loans, etc.) as well, and flexibly modify loan conditions based on customers' needs.