{
  "id": "RS20994",
  "type": "CRS Report",
  "typeId": "REPORTS",
  "number": "RS20994",
  "active": false,
  "source": "EveryCRSReport.com",
  "versions": [
    {
      "source": "EveryCRSReport.com",
      "id": 100810,
      "date": "2001-08-17",
      "retrieved": "2016-05-24T20:21:26.351941",
      "title": "Japan's Banking \"Crisis\"",
      "summary": "The Japanese economy is burdened by an overhang of nonperforming bank loans that are\nofficially\nrecognized to total $367.5 billion but could exceed a trillion dollars if all problem loans are taken\ninto account and economic conditions worsen significantly. These bad loans have weakened Japan's\nalready sluggish economy, undermined the strength of the yen, and are exacerbating the slowdown\nin Asia's economies. In recent years, Japan has averted a replay of the crisis conditions that\naccompanied earlier failures of financial institutions, but the problem is immense, and restoring\nhealth to the balance sheets of Japanese banks remains a top economic policy concern both in Tokyo\nand in international financial circles. After nearly a decade of repeated attempts to resolve the\nproblem, the current Koizumi government has set a new deadline for banks to write off the worst of\nthe loans within three years even if this causes as many as 200,000 lost jobs and numerous\nbankruptcies. The United States and Japan have initiated a Financial Dialogue led by the U.S.\nTreasury to discuss various financial issues - including the bad loan problem - and the Bush\nAdministration has said it would assist Japan in pursuing its economic reforms in any way it can.",
      "type": "CRS Report",
      "typeId": "REPORTS",
      "active": false,
      "formats": [
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          "format": "PDF",
          "encoding": null,
          "url": "http://www.crs.gov/Reports/pdf/RS20994",
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          "filename": "files/20010817_RS20994_11de80603928d0bdc3d3ad0bff304dc765572e4e.pdf",
          "images": null
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      ],
      "topics": []
    }
  ],
  "topics": [
    "Economic Policy",
    "Foreign Affairs",
    "Industry and Trade"
  ]
}