Japanese bad loan agency lines up NPL securitization

Mitsubishi Trust & Banking Corp. and Morgan Stanley mandated for Y100 billion issue.

Japan's Resolution and Collection Corp. (RCC), the government agency set up in 2000 to rid the country's banking system of non-performing loans (NPLs), is scheduled to launch its second securitization of distressed assets in October. RCC has selected Mitsubishi Trust & Banking Corp. and Morgan Stanley to arrange the deal.

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