Temporary Interest Rate Adjustment Act

Japanese: 臨時金利調整法 - りんじきんりちょうせいほう

Law No. 181 of 1947. The purpose of this law is to set the maximum interest rates for financial institutions. The interest rates in this law are the interest rates on deposits and savings, interest rates on fixed term savings, interest rates on mutual aid premiums, expected dividend rates for designated money trusts, interest rates on loans, discount rates on bills, interest rates on overdrafts, interest rates on call loans or call money, underwriting fees for securities, refund fees, and other similar rates actually charged by financial institutions nationwide. According to this law, the determination, change, and abolition of the maximum interest rates are to be made by the Policy Board of the Bank of Japan after consulting with the Financial System Council under the direction and supervision of the Minister of Finance. The maximum interest rates can be set by financial institution and by region. Financial institutions must not enter into contracts, make payments, or receive payments that exceed this maximum.

Source: Encyclopaedia Britannica Concise Encyclopedia About Encyclopaedia Britannica Concise Encyclopedia Information

Japanese:

昭和 22年法律 181号。金融機関の金利の最高限度を定めることを目的とする法律。この法律の金利とは，全国の金融機関が実際に行なう預金，貯金の利率，定期積立金の利回り，無尽掛け金の利回り，指定金銭信託の予定配当率，貸付けの利率，手形の割引率，当座貸越しの利率，コールローンまたはコールマネーの利率，有価証券の引受料，戻し料，その他これに準じるもの。同法によれば，金利の最高限度の決定，変更，廃止は，財務大臣の指示監督のもとに，日本銀行政策委員会が金融審議会に諮問ののち行なうことになっている。金利の最高限度は，金融機関別に，また地域別に定めることができる。金融機関は，この最高限度をこえて契約，支払い，受領してはならない。

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