Jusen

Jusen

Non-bank financial institutions in Japan that made mortgage loans. Jusen were created in the 1970s as subsidiaries of banks. Excessive lending by jusen in the 1980s contributed to Japan's real estate bubble. Several received bailouts in the 1990s but they nevertheless ceased operations in 1995.
References in periodicals archive ?
2) The underlying cause of the bubble was a sustained acceleration in the growth of the M2 money supply from 8 percent to 13 percent between 1985 and 1990, along with a parallel surge in bank lending and nonbank credit (from the Jusen or mortgage finance companies, and more generally the practice of Zaitech--credit creation and financial engineering by nonfinancial corporations).
For example Takeshi Kuramochi Jusen Asuka and I have discussed the importance of emissions modelling analyses for raising the ambition levels of nationally determined contributions from two perspectives: (i) modelling analyses can provide a benchmark emissions reduction range for each country that is consistent with the 2C goal prior to domestic discussions over nationally determined contributions; and (ii) modelling analyses can provide insights into untapped emissions reduction opportunities (gA Process for Making Nationally-determined Mitigation Contributions More Ambitioush Carbon and Climate Law Review 4/2013).
Jusen to nokyo [Housing loan companies and the agricultural cooperatives].
The group picked up new members after the jusen housing loan scandal began to unravel in the mid-1990s.
In June 1996 685 billion yen of public funds was applied to the liquidation of failed bank-affiliated non-banks and jusen companies with non-performing loans.
The jusen, private nonbank financial firms dedicated to mortgage and real estate lending, were the first large institutions to visibly collapse under the cycle of bad loans, depreciating collateral values, and credit contraction, feeding further local SME business collapses and bad loans.
This initiative followed the clean-up of the jusen housing loan corporations to which the co-operatives were heavy lenders.
Additional declines in land prices, however, deteriorated the condition of the jusen further.
The Japanese Parliament, the Diet, soon enacted bills to create the Japanese Resolution Trust Corporation (JRTC) and the Housing Loan Asset Management Institute that will resolve the real estate portfolios of failed credit cooperatives and jusen, the housing loan companies.
Japanese banks continue to struggle with huge portfolios of problem loans, including loans made to seven jusen, or bank-affiliated housing loan companies.
The financial press and regulatory authorities have focused on the bank nonperforming loans held by banks and housing loan companies or jusen.
Recently, the Diet passed legislation to create the Japanese Resolution Trust Corporation (JRTC) and the Housing Loan Asset Management Institute, two agencies charged with resolving the real estate portfolios of failed credit cooperatives and jusen, which are housing loan companies.