In addition to providing microeconomic support for the credit channel view, individual firm data also allow us to examine important hypotheses about the impact that transparency and public disclosure by individual firms can have to mitigate the effects of banking crises on those firms.
In the foreign exchange market, the yen depreciated gradually from the end of September and the yen-dollar exchange rate temporarily rose to ¥ The yen is currently being traded in the range of ¥ to the US dollar. With regard to corporate finance, private banks continue to be more active in extending loans mainly to blue-chip companies, while carefully evaluating the credit risks involved.