Abstract
From the 1970s onwards, international finance expanded most remarkably in the period after the Second World War. As the syndicate loan clearly illustrated, banks took the lion’s share of this development in the 1970s. In the 1980s, on the other hand, they had to adjust themselves to the new waves of ‘securitization’, and both the debt problems of the LDCs, and later bad loans in the developed countries, largely restricted the continued growth of international banking.1
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Notes and References
Bank of England, Quarterly Bulletin, May 1987, pp. 234, 240.
As described above, the overseas branches used to raise funds in the Eurocurrency market to send it back to offices in Japan. In 1978, for example, the inter-office account of the overseas branches shows net assets (in other words net fund inflow to the Japanese office) of 273 billion yen: BOJ, Economic Statistics Annual, 1989.
Since regulations on spot exchange holding were lifted in July 1984, the net sum of spot and forward exchange amounts are limited. Forex banks should not ‘hold the total net foreign exchange exposure of more than 1 million U.S. dollars, at the end of each working day’: MOF, The 17th IFB Annual Report, 1993, p. 102.
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© 1995 Toru Iwami
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Iwami, T. (1995). Internationalization of Japanese Banking. In: Japan in the International Financial System. Studies in the Modern Japanese Economy. Palgrave Macmillan, London. https://doi.org/10.1057/9780230372634_4
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DOI: https://doi.org/10.1057/9780230372634_4
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-39394-7
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