Introduction of the "Senior Loan Officer Opinion Survey on Bank Lending Practices at Large Japanese Banks" ("Loan Survey")
April 21, 2000
Bank of Japan
Financial Markets Department
The Bank of Japan today introduces the "Senior Loan Officer Opinion Survey on Bank Lending Practices at Large Japanese Banks" ("Loan Survey").
1. Purpose of the Survey and a Cautionary Note
The Loan Survey aims to measure quantitatively the view of senior loan officers at large Japanese banks concerning the loan market. A multiple-choice questionnaire is used to learn respondents' view of the demand for loans from firms and other borrowers, standards and terms of loans, and other matters, on the scale of 1 to 5 or 1 to 3. The result of each question is expressed as a percentage of total response, and weighted average is calculated. This survey is broadly modeled on the similar survey conducted by the Federal Reserve Board ("Senior Loan Officer Opinion Survey on Bank Lending Practices").
The results of the survey may have biases that can only be detected after accumulation of results over several quarters or years. Therefore, at this stage they should be interpreted with considerable caution.
2. General Explanation
- The survey asks the respondents' view of the following for the previous and coming quarter concerning following points:
- (a)Changes in demand for bank loans from firms, households, and local governments;
- (b)Changes in credit standards for applications from firms and households;
- (c)Changes in the terms and conditions of lending;
- (d)Changes in the spreads of loan rates over the banks' cost of funds.
The Bank of Japan conducts the survey quarterly in January, April, July, and September. The Bank sends a questionnaire by mail at the end of the previous month of the month, and compiles the results by the end of the survey month.
The respondents to the survey are 50 large private banks in terms of lending volume. The aggregate loan size of these banks account for approximately 75 percent of the loan market of Japanese private banks (city banks, regional banks, regional banks II, trust banks, long-term credit banks, and shinkin banks).
The list of survey respondents is basically fixed for the next 3 years, and will be reviewed in April 2003.
(4) Method of release
The results are released as soon as the results have been compiled on the this web site in Japanese and English. Hard copies are available at the east gate of the Bank of Japan's main building.
For further information, contact
Money and Capital Markets Division, Financial Markets Department
Mr. Makoto Ohsawa (+81-3-3277-3039) or
Mr. Isao Hishikawa (+81-3-3277-1236).