In addition, attention should be paid to the point that the program of interest-free and unsecured loans currently implemented to support corporate financing might exert downward pressure on spreads on regular loans that are made without the support of the program, even after the impact of COVID-19 subsides.
9  Credit costs could increase, as financial institutions provide active support for firms whose financial positions have deteriorated due to COVID-19, and a certain proportion of the loans could become nonperforming.