The government announced Friday a new plan to establish schemes to help small and midsize companies rebuild their businesses by utilizing the trust function of Resolution and Collection Corp., the government's loan collection entity.
RCC President Akio Kioi said the plan is designed to save salvageable small and midsize firms as banks move to speed up bad-loan disposals under the comprehensive economic package, which was announced Oct. 30.
The plan, revealed by the Financial Services Agency and RCC, comprises two schemes. The subject of the trust will be major banks' bad loans to firms likely to go under.