Long-term credit bank

A private financial institution established under the Long-Term Credit Bank Act (Law No. 187 of 1952). Its main business is to issue bonds (financial bonds) in exchange for accepting deposits, and lend the funds as capital equipment or long-term operating capital. There were three banks: the Industrial Bank of Japan, the Long-Term Credit Bank of Japan, and the Nippon Credit Bank (originally called the Japan Real Estate Bank) but the Long-Term Credit Bank of Japan and the Nippon Credit Bank went bankrupt in 1998 and were temporarily nationalized, and the Industrial Bank of Japan was split up and merged with a commercial bank in 2002, before being integrated and reorganized.

The purpose of the Long-Term Credit Bank Law was to make short-term funds long-term through financial bonds issued by the Long-Term Credit Banks, and to reduce the burden on deposit banks (commercial banks) in the long-term financial market. In other words, the purpose was to eliminate over-loans of commercial banks, develop the public bond market, and supplement securities business in order to normalize the financial system. It was one of the important components of the indirect financing method for heavy chemical industry financing during the high economic growth period. However, in recent years, with the liberalization of finance, internationalization, and diversification of fund raising by large companies, the Long-Term Credit Banks' lending to overseas (non-residents), public corporations and public agencies, and tertiary industries such as distribution and leasing has increased, and they have also attempted to diversify their management, such as by acting as intermediary for corporate acquisitions. In the 1990s, the bubble economy collapsed, and the Long-Term Credit Banks, like other financial institutions, were left with a large amount of bad loans and their management deteriorated. The Long-Term Credit Bank of Japan was deemed insolvent on October 23, 1998, and the Nippon Credit Bank on December 13 of the same year, and the Financial Supervisory Agency notified them of special public management, and they were temporarily nationalized. In September 1999, it was decided that the Long-Term Credit Bank of Japan would be transferred to an investment group led by the American Ripplewood Holdings, and in March 2000, the special public receivership ended and the bank began operations under a new structure, changing its name to Shinsei Bank in June 2000. In February 2000, it was decided that the Nippon Credit Bank would be transferred to a group led by SoftBank, and in September of the same year, the special public receivership ended and the bank began operations under a new structure, changing its name to Aozora Bank in January 2001. In April 2002, the Industrial Bank of Japan was split up and merged with Dai-Ichi Kangyo Bank and Fuji Bank, and was integrated and reorganized into Mizuho Bank and Mizuho Corporate Bank, becoming an ordinary bank.

[Hijikata Tamotsu]

Source: Shogakukan Encyclopedia Nipponica About Encyclopedia Nipponica Information | Legend

長期信用銀行法（昭和27年法律187号）に基づいて設立された民間金融機関。預金の受入れにかえて債券（金融債）を発行し、その資金を設備資金または長期運転資金として貸し付けることを主たる業務とする。日本興業銀行、日本長期信用銀行、日本債券信用銀行（設立時日本不動産銀行）の3行があったが、日本長期信用銀行と日本債券信用銀行は1998年（平成10）相次いで経営が破綻(はたん)し、一時的に国有化され、日本興業銀行は2002年普通銀行と分割・合併し、統合・再編された。

　長期信用銀行法の制定は、長期信用銀行の発行する金融債によって短期資金を長期化し、長期金融市場における預金銀行（市中銀行）の負担を軽減すること、つまり金融正常化のために市中銀行のオーバー・ローンの解消と公社債市場の育成、証券業務の補完にあり、高度成長期の重化学工業融資における間接金融方式の重要な構成要素の一つであった。しかし近年は、金融の自由化、国際化や大企業の資金調達の多様化などに伴い、長期信用銀行の貸出先も海外（非居住者）向け、公社・公団向け、流通・リースなどの第三次産業向けなどの融資が増加し、企業買収の仲介業務も行うなど、経営の多角化が試みられた。1990年代に入るとバブル経済が崩壊し、長期信用銀行も他の金融機関と同様に多額の不良債権を抱え、経営が悪化し、日本長期信用銀行は98年10月23日、日本債券信用銀行は同年12月13日に、債務超過とみなされ、金融監督庁より特別公的管理が通告され、一時的に国有化された。その後、日本長期信用銀行は99年9月アメリカのリップルウッド・ホールディングスを中心とする投資グループへの譲渡が決定、2000年3月には特別公的管理が終了し新体制での営業を開始し、2000年6月に行名を「新生銀行」と変更した。日本債券信用銀行は2000年2月ソフトバンクを中心としたグループへの譲渡が決定、同年9月に特別公的管理が終了し新体制での営業を開始し、2001年1月に行名を「あおぞら銀行」と変更した。なお、日本興業銀行は2002年4月第一勧業銀行、富士銀行との分割および合併により、みずほ銀行、みずほコーポレート銀行に統合・再編され、普通銀行となった。

［土方　保］

出典　小学館　日本大百科全書(ニッポニカ)日本大百科全書(ニッポニカ)について　情報 | 凡例