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Japanese banks gain as state fund cuts deposit levy

The low rate reflects the recovery of the local financial system but savings may not spur lending


THE state-run fund that bailed out Japan's banks with taxpayer money from the end of the 1990s is now so flush with cash that it is cutting what it charges lenders to protect savers.

The Deposit Insurance Corp of Japan lowered to 4.2 basis points from 8.4 basis points what it