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Calls by Japan's financial services authority on banks to lend more freely to businesses in an effort to help stimulate the country's beleaguered economy have been met with skepticism from a number of experts.
The FSA in Japan introduced guidelines on Friday, predominantly aimed at regional banks, which encouraged lenders to consider giving to borrowers with low credit scores but with potential for strong growth.
Mark Williams, chief Asia economist with Capital Economics told CNBC that the FSA's new guidelines would probably make little headway.
He went on to say in a phone interview, "The latest surveys suggest that banks are already willing to lend. The reality is that banks (in Japan) have not been happy since the introduction of negative rates."
The Bank of Japan (BoJ) surprised the financial markets in January of 2016 cutting its benchmark rate to -0.1 percent and sticking to this monetary policy strategy since in spite of robust criticism. This move, in part, had been made to encourage banks to stop holding money at the Bank of Japan and lend to businesses, thereby reducing the risk of a stagnant economy.
Announcing the recommendations, the FSA said, "As the (Japanese) population continues to decline, it's not realistic for all financial institutions to maintain profit levels through an expansion of loan volume," Reuters reported.
"It is becoming more important that they control the size of their assets and build more stable profit structures."
Nonetheless, Christopher Dembik, head of macro analysis at Saxo Bank, was optimistic that the FSA's new guidelines would be a step in the right direction in terms of reviving economic growth for Japan.
"The monetary and fiscal stimulus cannot have the desired impact on GDP (gross domestic product) growth and inflation if the banks do not play their role as providers of loans to the economy," he told CNBC in an email.
"In the banking sector, a mentality switch is needed urgently in order to help the government and the BoJ to reach their goals."
Other financial regulators have not given guidance advising banks to take a more bold approach when lending to prospective businesses or companies.