Bank of Japan lending plan good for banks: Moody's

The Bank of Japan's plan to fund high-growth enterprises through a 1 trillion yen ($12.5 billion) lending program that draws on its U.S. dollar reserves is good for the creditworthiness of the nation's biggest banks, according to research released Monday by Moody's Investors Service. Moody's analysts writing in the rating agency's Weekly Credit Outlook said the scheme, unveiled last week, is "credit positive" for banks, noting that it provides them access to low-cost U.S. dollar funding for the first time. (MarketWatch)