@article{oai:stars.repo.nii.ac.jp:00004575,
 author = {一ノ瀬, 篤 and Ichinose, Atsushi},
 issue = {2},
 journal = {桃山学院大学経済経営論集, ST. ANDREW'S UNIVERSITY ECONOMIC AND BUSINESS REVIEW},
 month = {Sep},
 note = {In this issue, we will discuss the correlation between external investments by Japanese banks and differentials of internal and external interest rates. The main assets and liabilities held by banks are lendings, cash and deposits, and securities investments.    First let us examine the lendings : setting the period from 1995 to 1997 aside, surpluses of inflow (collecting of debts) over outflow was dominant on the asset side, whereas excess outflow (repayment of debts) was remarkable on the liability side. As a result, the swelling of both the asset and liability sides during the Bubble period was rectified. The years from 1995 to 1997 appear to be a turning point at first. It was, however, nothing but the outcome of emergency lendings which head offices of Japanese banks gave their overseas branches in order to deal with the problem of the so-called Japan premium in international financial markets caused by some scandals of Japanese financial institutions.    Secondly with regard to cash and deposits, decrease of liabilities (withdrawal of deposits by non-residents → surplus of outflow over inflow) was remarkable apart from the period 1995 97, whereas, on the asset side, outflow (depositing with overseas banks) and inflow (collecting deposits from overseas banks) offset each other, the total result of which was a dominant surplus outflow. In the period 1995-97, a decline in assets was outstanding in the form of collecting overseas deposits, but this can be regarded as the return current of the above emergency lendings. Taking a general view of the decade, surplus outflow (in the form of reducing liabilities) was entirely dominant in regard to cash and deposits.    Though short-term interest rate differentials between Japan and the U.S.－U.K. followed a shrinking－enlarging－shrinking cycle throughout the decade, no correlation between the cycle and international capital movements handled by Japanese banks can be observed.    Thirdly, long-term interest rate differentials showed an enlarging trend up to 1997, whereas they shrank a little in the period 1997 99. During the differentials-enlarging period, securities investments by banks continued mildly. But the sums invested each year were too small to judge the correlation between the interest rate differentials and the securities investments. It would be worth noting that a remarkable outflow (investments abroad) can be seen in the differentialsshrinking period 1998-99.    Various forms of investment abroad by Japanese banks were not determined by interest rate differentials, but rather by the pressure of non-performing loans and BIS regulations, both of which made it indispensable for banks to reduce their assets abroad., 3, KJ00000154989, 論文, Article},
 pages = {53--72},
 title = {1990ネンダイ ノ ニチベイ カン シホン ヘンドウ 2},
 volume = {44},
 year = {2002},
 yomi = {イチノセ, アツシ}
}