The 15 banks applying for public money will together write off some 9.3 trillion yen in bad loans by the end of fiscal 1998, according to the heads of the banks.

The figure was compiled from reports released by the individual banks after submission to the Financial Reconstruction Commission on Monday.

The FRC is set to approve the infusion of 7.46 trillion yen into the banks on Friday. The banks increased writeoffs because the government adopted stricter standards for the disposal of nonperforming loans by banks wishing to receive public funds.

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