JAPANESE BANKS PLAN JOINT FIRM TO AVOID DEBT RISK
Japan's major commercial banks plan to set
up a joint company to which they will transfer assets acquired
by lending to developing countries to build up a reserve
against possible bad loans, a senior official of a major bank
told Reuters.
    He said about 10 banks are likely to finish details of the
project in a few weeks. The intent is to avoid risk arising
from unrecoverable debt owed by Third World countries, he said.
 REUTER
