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Finance

Japan's lenders bankroll scholarships to dodge negative rates

Banks flock to debt issued by aid provider, despite zero returns

The Japan Student Services Organization funds scholarships for college students by borrowing from the private sector.  

TOKYO -- Japanese commercial banks have been snapping up zero-coupon debt issued by a state-backed scholarship body in the latest twist in the the Bank of Japan's negative rate campaign where no-interest loans can be a good deal for lenders.  

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