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Japanese companies rush to raise short-term funds at negative rates

Commercial paper gains popularity as banks cope with BOJ's subzero policy

The Bank of Japan's 3-year-old negative interest rate policy has convinced the country's commercial lenders to pay their corporate borrowers.   © Reuters

TOKYO -- An increasing number of Japanese companies are selling short-term debt that carries negative interest rates to banks, which are trying to mitigate the impact of the negative rates they pay on money they park at the central bank.

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