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Bad loans at the nation’s 121 banks ballooned by ¥889 billion to reach ¥12.294 trillion during the six-month period to Sept. 30, the Financial Services Agency said Tuesday.

It was the first time since the second half of fiscal 2001 that the banking system saw a rise in bad loans compared with six months earlier, the FSA said. The amount of bad loans were computed under bad-loan definitions in the financial system revival law.

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