Japan Housing Finance Agency

It is a financial institution established based on the Housing Loan Corporation Act (Act No. 156 of 1950) enacted in 1950. In accordance with the Independent Administrative Agency Housing Finance Agency Act (Act No. 82 of 17) promulgated in July 2005, it became the Independent Administrative Agency Japan Housing Finance Agency in April 2007. The purpose of establishing the Housing Loan Corporation was to provide long-term, low-interest loans for the construction and purchase of housing sufficient for the general public to live healthy and cultured lives, which banks and general financial institutions found difficult to lend. The activities of the corporation included lending funds to individuals for the construction of housing, lending construction funds for rental housing (public corporation rental housing, private rental housing), lending funds to purchase existing housing (so-called used housing), lending funds to purchase public corporation and privately sold housing, providing financing for the construction of worker housing based on the Industrial Workers Housing Financing Act, lending funds for housing construction and housing purchase for urban redevelopment related to redevelopment housing, lending funds for the construction of mid- to high-rise buildings, lending funds for land development, lending funds for housing savings, etc. The funds for lending consisted of capital (fully funded by the government) as well as borrowings from government funds based on the Fiscal Investment and Loan Program (Fund Management Department funds, Postal Life Insurance and Postal Pension Funds). The significance of the government lending money through the Housing Loan Corporation with policy intentions was that (1) it was an effective tool for economic stimulus policy in addition to housing policy aimed at improving individual housing, (2) it had a significant effect on improving the living standards of the people, (3) it promoted home ownership and reduced the repayment burden, and (4) it lowered the income level at which people could purchase a home by providing low-interest housing loans to the middle and low-income brackets. For this reason, income and housing area restrictions were imposed on those who could apply the base interest rate of 5.5% set out in the Housing Loan Corporation Law. In addition, the Housing Loan Corporation had a credit insurance system for private housing finance, which indirectly contributed to the promotion of private housing finance.

[Hara Shiro]

Source: Shogakukan Encyclopedia Nipponica About Encyclopedia Nipponica Information | Legend

1950年（昭和25）に制定された住宅金融公庫法（昭和25年法律156号）に基づいて設立された金融機関。2005年（平成17）7月に公布された独立行政法人住宅金融支援機構法（平成17年法律82号）により、07年4月より独立行政法人住宅金融支援機構となった。住宅金融公庫設立の目的は、国民大衆が健康で文化的な生活を営むに足る住宅の建設および購入に必要な資金で、銀行および一般の金融機関が融資困難なものを長期低利で融通することにあった。公庫の業務は、個人に対する住宅建設資金の貸付、賃貸住宅に対する建設資金の貸付（公社賃貸住宅、民間賃貸住宅）、既存住宅（いわゆる中古住宅）の購入資金の貸付、公社ならびに民間分譲住宅の購入資金の貸付、産業労働者住宅資金融通法に基づく労働者住宅の建設に必要な資金の融通、再開発住宅に関連した市街地再開発などの住宅建設資金および住宅購入資金の貸付、中・高層建築物のうちの住宅建設資金の貸付、宅地造成資金の融通、財形住宅資金の貸付などであった。その貸付資金は、資本金（全額政府出資）のほか、財政投融資計画に基づく政府資金（資金運用部資金、簡易生命保険および郵便年金資金）からの借入金からなっていた。政府が住宅金融公庫を通じて政策的な意図の下に資金を貸し付けたことの意義は、(1)個人の住宅を充実させようとした住宅政策のほか、景気刺激政策として有効な手段となったこと、(2)国民の居住水準の向上に大きな効果があったこと、(3)持ち家取得を推進し、返済負担を軽減すること、(4)中・低所得層に低利の住宅資金を供給して、住宅取得可能所得水準を引き下げること、などにあった。このため、住宅金融公庫法に定められた基準金利5.5％の適用対象に所得制限や住宅面積制限を課していた。また、住宅金融公庫は民間の住宅金融に対する信用保険制度をもっていて、民間住宅金融の間接的促進に寄与していた。

［原　司郎］

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