Financial Institutions Urged to Provide Financing Support; Following Noto Peninsula Earthquake

The Yomiuri Shimbun
Utility poles have fallen due to Monday’s earthquake in Wajima, Ishikawa Prefecture, on Wednesday.

Public and private financial institutions have been urged to provide financing support to firms and their business contacts affected by Monday’s powerful earthquake that hit Ishikawa Prefecture and surrounding areas.

The Financial Services Agency, the Finance Ministry, the Small and Medium Enterprise Agency and other organizations urged these financial institutions to provide flexible and detailed assistance, such as minimizing the number of documents required for loan underwriting and deferring the repayment of personal mortgages and other existing loans, depending on the damage and funding needs.

They also recommended the financial institutions to consider that bills and checks that cannot be paid immediately may also be deferred, depending on the situation.