• The Associated Press


Japan recouped much of the public money it pumped into banks during the country’s financial crisis last decade, when toxic loans totaled as much as ¥100 trillion, Financial Services Agency Commissioner Takafumi Sato said Wednesday.

The nation endured an economic and financial malaise in the 1990s known as the “lost decade” after the bursting of a real estate bubble that had been built on excessive lending. Insolvent lenders propped up by government bailouts became known as “zombie” banks and cast a long shadow over the world’s second-largest economy.

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