BANK OF JAPAN Not to be released until 8:50 a.m. JST | |
Bank of Japan | on April 21, 2021 |
Financial System and Bank Examination Department | April 21, 2021 |
Senior Loan Officer Opinion Survey on Bank Lending Practices
at Large Japanese Banks (April 2021)
Period of survey: March 9 to April 12, 2021
Number of banks surveyed: 50 (For details see footnote 1 on page 9.)
Demand for Loans (Questions 1-6)
1. How has demand for loans from borrowers (firms, local governments, and households) changed over the past three months apart from normal seasonal variations?
DI for demand | (Previous | |
for loans | ||
survey) | ||
(% point) | ||
Firms | 9 | -5 |
Local governments | 6 | 7 |
Households | 7 | 12 |
Number of respondents selecting each option | ||||||
(percentage of respondents selecting each option) | Total | |||||
Substantially | Moderately | About | Moderately | Substantially | ||
stronger | stronger | the same | weaker | weaker | ||
0 | 10 | 39 | 1 | 0 | 50 | |
(0%) | (20%) | (78%) | (2%) | (0%) | ||
1 | 6 | 41 | 2 | 0 | 50 | |
(2%) | (12%) | (82%) | (4%) | (0%) | ||
0 | 8 | 41 | 1 | 0 | 50 | |
(0%) | (16%) | (82%) | (2%) | (0%) | ||
- DI for demand for loans
-
(percentage of respondents selecting "substantially stronger" + percentage of respondents selecting "moderately stronger" × 0.5) - (percentage of respondents selecting "substantially weaker" + percentage of respondents selecting "moderately weaker" × 0.5)
(The same method of calculation applies to questions 2, 4, and 6.)
Demand for Loans from Borrowers by Borrower Type
(DI, % points)
Stronger | 60 | Outlook | ||||||||||||||||||||
Firms | ||||||||||||||||||||||
50 | Local governments | |||||||||||||||||||||
Households | ||||||||||||||||||||||
40 | ||||||||||||||||||||||
30 | ||||||||||||||||||||||
20 | ||||||||||||||||||||||
10 | ||||||||||||||||||||||
0 | ||||||||||||||||||||||
-10 | ||||||||||||||||||||||
-20 | ||||||||||||||||||||||
Weaker -30 | ||||||||||||||||||||||
00 | 01 | 02 | 03 | 04 | 05 | 06 | 07 | 08 | 09 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | |
CY |
* See question 6 for the outlook.
1/9
2. How has demand for loans from firms changed over the past three months according to industry and firm size?
DI for demand | (Previous | |
All industries | for loans | |
survey) | ||
(% point) | ||
Large firms | -2 | -6 |
Medium-sized firms | -1 | 3 |
Small firms | 10 | 1 |
Number of respondents selecting each option | ||||||
(percentage of respondents selecting each option) | Total | |||||
Substantially | Moderately | About | Moderately | Substantially | ||
stronger | stronger | the same | weaker | weaker | ||
0 | 3 | 42 | 5 | 0 | 50 | |
(0%) | (6%) | (84%) | (10%) | (0%) | ||
0 | 3 | 44 | 2 | 1 | 50 | |
(0%) | (6%) | (88%) | (4%) | (2%) | ||
0 | 11 | 38 | 1 | 0 | 50 | |
(0%) | (22%) | (76%) | (2%) | (0%) | ||
* For details on the calculation of DI for demand for loans, see footnote for question 1.
(DI, % points)
Demand for Loans from Firms by Firm Size
60 | ||||||||||||||||||||||
Stronger | Large firms | |||||||||||||||||||||
50 | Medium-sized firms | |||||||||||||||||||||
40 | Small firms | |||||||||||||||||||||
30 | ||||||||||||||||||||||
20 | ||||||||||||||||||||||
10 | ||||||||||||||||||||||
0 | ||||||||||||||||||||||
-10 | ||||||||||||||||||||||
Weaker | -20 | |||||||||||||||||||||
-30 | ||||||||||||||||||||||
00 | 01 | 02 | 03 | 04 | 05 | 06 | 07 | 08 | 09 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | |
CY |
DI for demand | (Previous | |
Manufacturing | for loans | |
survey) | ||
(% point) | ||
Large firms | -8 | -3 |
Medium-sized firms | -3 | 6 |
Small firms | 2 | 0 |
DI for demand | (Previous | |
Nonmanufacturing | for loans | |
survey) | ||
(% point) | ||
Large firms | 1 | -5 |
Medium-sized firms | -1 | 0 |
Small firms | 9 | 1 |
Number of respondents selecting each option | ||||||
(percentage of respondents selecting each option) | Total | |||||
Substantially | Moderately | About | Moderately | Substantially | ||
stronger | stronger | the same | weaker | weaker | ||
0 | 1 | 41 | 7 | 1 | 50 | |
(0%) | (2%) | (82%) | (14%) | (2%) | ||
0 | 4 | 41 | 3 | 2 | 50 | |
(0%) | (8%) | (82%) | (6%) | (4%) | ||
0 | 6 | 41 | 2 | 1 | 50 | |
(0%) | (12%) | (82%) | (4%) | (2%) | ||
Number of respondents selecting each option | ||||||
(percentage of respondents selecting each option) | Total | |||||
Substantially | Moderately | About | Moderately | Substantially | ||
stronger | stronger | the same | weaker | weaker | ||
0 | 4 | 43 | 3 | 0 | 50 | |
(0%) | (8%) | (86%) | (6%) | (0%) | ||
0 | 3 | 44 | 2 | 1 | 50 | |
(0%) | (6%) | (88%) | (4%) | (2%) | ||
0 | 10 | 39 | 1 | 0 | 50 | |
(0%) | (20%) | (78%) | (2%) | (0%) | ||
2/9
Of which:
Construction | DI for demand | (Previous |
for loans | ||
and real estate | survey) | |
(% point) | ||
Large firms | -6 | 7 |
Medium-sized firms | -1 | -1 |
Small firms | 6 | 4 |
Finance | DI for demand | (Previous |
for loans | ||
and insurance | survey) | |
(% point) | ||
Large firms | 5 | -3 |
Medium-sized firms | -1 | 0 |
Small firms | -4 | -2 |
Other | DI for demand | (Previous |
for loans | ||
nonmanufacturing | survey) | |
(% point) | ||
Large firms | 9 | -8 |
Medium-sized firms | -1 | 1 |
Small firms | 9 | 2 |
Number of respondents selecting each option | ||||||
(percentage of respondents selecting each option) | Total | |||||
Substantially | Moderately | About | Moderately | Substantially | ||
stronger | stronger | the same | weaker | weaker | ||
0 | 2 | 43 | 2 | 3 | 50 | |
(0%) | (4%) | (86%) | (4%) | (6%) | ||
1 | 3 | 43 | 0 | 3 | 50 | |
(2%) | (6%) | (86%) | (0%) | (6%) | ||
0 | 7 | 42 | 1 | 0 | 50 | |
(0%) | (14%) | (84%) | (2%) | (0%) | ||
Number of respondents selecting each option | ||||||
(percentage of respondents selecting each option) | Total | |||||
Substantially | Moderately | About | Moderately | Substantially | ||
stronger | stronger | the same | weaker | weaker | ||
1 | 7 | 38 | 4 | 0 | 50 | |
(2%) | (14%) | (76%) | (8%) | (0%) | ||
0 | 1 | 48 | 0 | 1 | 50 | |
(0%) | (2%) | (96%) | (0%) | (2%) | ||
0 | 4 | 41 | 2 | 3 | 50 | |
(0%) | (8%) | (82%) | (4%) | (6%) | ||
Number of respondents selecting each option | ||||||
(percentage of respondents selecting each option) | Total | |||||
Substantially | Moderately | About | Moderately | Substantially | ||
stronger | stronger | the same | weaker | weaker | ||
2 | 5 | 43 | 0 | 0 | 50 | |
(4%) | (10%) | (86%) | (0%) | (0%) | ||
0 | 4 | 42 | 3 | 1 | 50 | |
(0%) | (8%) | (84%) | (6%) | (2%) | ||
0 | 10 | 39 | 1 | 0 | 50 | |
(0%) | (20%) | (78%) | (2%) | (0%) | ||
3a. If demand for loans from firms has increased at your bank (that is, the answer to question 2 about "All industries" is either "Substantially stronger" or "Moderately stronger"), to what factors do you attribute this increase? (Please rate each possible reason using the following scale: 3=important, 2=somewhat important, 1=not important.)
Large firms | Medium- | Small firms | ||
sized firms | ||||
Average | Average | Average | ||
(1) | Customers' sales increased | 1.00 | 1.00 | 1.00 |
(2) | Customers' fixed investment increased | 1.00 | 1.00 | 1.09 |
(3) | Customers' funding from other sources became less | 1.33 | 2.33 | 2.27 |
available | ||||
(4) | Customers' internally-generated funds decreased | 1.67 | 2.67 | 2.55 |
(5) | Customers' borrowing shifted from other sources to your | 1.00 | 1.00 | 1.09 |
bank | ||||
(6) | Decline in interest rates | 1.00 | 1.00 | 1.18 |
(7) | Other factors | 1.33 | 2.00 | 1.55 |
Number of banks responding | 3 | 3 | 11 | |
- The average is calculated as the product (i.e.,weighted average) of the percentage share that each reason was chosen and the scale given to each reason chosen.
(The same method of calculation applies to questions 3b, 5a, 5b, 8a, and 8b.)
3/9
3b. If demand for loans from firms has decreased at your bank (that is, the answer to question 2 about "All industries" is either "Substantially weaker" or "Moderately weaker"), to what factors do you attribute this decrease? (Please rate each possible reason using the following scale: 3=important, 2=somewhat important, 1=not important.)
Large firms | Medium- | Small firms | ||
sized firms | ||||
Average | Average | Average | ||
(1) | Customers' sales decreased | 1.40 | 1.67 | 3.00 |
(2) | Customers' fixed investment decreased | 1.60 | 1.33 | 3.00 |
(3) | Customers' funding from other sources became easy to | 1.60 | 1.67 | 2.00 |
obtain | ||||
(4) | Customers' internally-generated funds increased | 1.80 | 1.67 | 2.00 |
(5) | Customers' borrowing shifted from your bank to other | 1.40 | 1.00 | 1.00 |
sources | ||||
(6) | Rise in interest rates | 1.00 | 1.00 | 1.00 |
(7) | Other factors | 1.00 | 1.33 | 1.00 |
Number of banks responding | 5 | 3 | 1 | |
- For details on the calculation of the average, see footnote for question 3a.
4. How has demand from households for housing and consumer loans changed?
DI for demand | Number of respondents selecting each option | ||||||||||
(Previous | (percentage of respondents selecting each option) | ||||||||||
for loans | Total | ||||||||||
survey) | Substantially | Moderately | About | Moderately | Substantially | ||||||
(% point) | |||||||||||
stronger | stronger | the same | weaker | weaker | |||||||
Housing loans | 8 | 14 | 0 | 9 | 40 | 1 | 0 | 50 | |||
(0%) | (18%) | (80%) | (2%) | (0%) | |||||||
Consumer loans | -1 | 3 | 0 | 4 | 41 | 5 | 0 | 50 | |||
(0%) | (8%) | (82%) | (10%) | (0%) | |||||||
* For details on the calculation of DI for demand for loans, see footnote for question 1.
Demand for Loans from Households by Type of Loan
(DI, % points)
Stronger | 25 | Housing loans | ||||||||||||||||||||
20 | ||||||||||||||||||||||
Consumer loans | ||||||||||||||||||||||
15 | ||||||||||||||||||||||
10 | ||||||||||||||||||||||
5 | ||||||||||||||||||||||
0 | ||||||||||||||||||||||
-5 | ||||||||||||||||||||||
-10 | ||||||||||||||||||||||
-15 | ||||||||||||||||||||||
-20 | ||||||||||||||||||||||
Weaker | -25 | |||||||||||||||||||||
-30 | ||||||||||||||||||||||
-35 | ||||||||||||||||||||||
00 | 01 | 02 | 03 | 04 | 05 | 06 | 07 | 08 | 09 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | |
CY | ||||||||||||||||||||||
4/9 |
5a. If demand for loans from households has increased at your bank (that is, the answer to question 4 is either "Substantially stronger" or
"Moderately stronger"), to what factors do you attribute this increase? (Please rate each possible reason using the following scale: 3=important, 2=somewhat important, 1=not important.)
Housing loans | Consumer loans | ||
Average | Average | ||
(1) | Increase in housing investment | 2.00 | 1.50 |
(2) | Increase in household consumption | 1.22 | 1.25 |
(3) | Decrease in income | 1.22 | 1.25 |
(4) | Decline in interest rates | 1.22 | 1.25 |
(5) | Other factors | 1.33 | 1.25 |
Number of banks responding | 9 | 4 | |
* For details on the calculation of the average, see footnote for question 3a.
5b. If demand for loans from households has decreased at your bank (that is, the answer to question 4 is either "Substantially weaker" or "Moderately weaker"), to what factors do you attribute this decrease? (Please rate each possible reason using the following scale: 3=important, 2=somewhat important, 1=not important.)
Housing loans | Consumer loans | ||
Average | Average | ||
(1) | Decrease in housing investment | 2.00 | 1.20 |
(2) | Decrease in household consumption | 2.00 | 2.00 |
(3) | Increase in income | 1.00 | 1.40 |
(4) | Rise in interest rates | 1.00 | 1.00 |
(5) | Other factors | 2.00 | 1.60 |
Number of banks responding | 1 | 5 | |
- For details on the calculation of the average, see footnote for question 3a.
6. How is demand for loans from borrowers (firms, local governments, and households) likely to change over the next three months apart from normal seasonal variations?
DI for demand | (Previous |
for loans | |
survey) | |
(% point) | |
Firms | 5 | 12 |
Local governments | 4 | 4 |
Households | 2 | -6 |
Number of respondents selecting each option | ||||||
(percentage of respondents selecting each option) | ||||||
Increase | Increase | Remain | Decrease | Decrease | Total | |
about | ||||||
substantially | somewhat | somewhat | substantially | |||
the same | ||||||
0 | 8 | 39 | 3 | 0 | 50 | |
(0%) | (16%) | (78%) | (6%) | (0%) | ||
0 | 4 | 46 | 0 | 0 | 50 | |
(0%) | (8%) | (92%) | (0%) | (0%) | ||
0 | 3 | 46 | 1 | 0 | 50 | |
(0%) | (6%) | (92%) | (2%) | (0%) | ||
* For details on the calculation of DI for demand for loans, see footnote for question 1.
5/9
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Bank of Japan published this content on 21 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 April 2021 23:53:05 UTC.
