As Japanese companies are usually highly leveraged in comparison with their U.S. counterparts, banks take an active interest in the operations of their clients. Even at times when financing is relatively easy, companies sometimes borrow in excess of need in order to maintain good relations with their bank and to ensure that funds will be available in leaner years. Banks are often large shareholders in publicly traded corporations, have close relationships with both local governments and national regulatory agencies, and often play a coordinating role among their clients. One of the first features of the Big Bang, lifting of restrictions on individual investment in certain types of foreign currency assets, were lifted in April, 1998. While the actual market impact of this change may be debatable, its psychological impact in raising awareness of the potential effects of deregulation appear substantial.
Japanese banks offer regular and time deposits and checking accounts for businesses.
The banks wage an uphill battle against the postal savings system for consumer deposits, a fight which has become more difficult in the last year due to the perceived superior safety of postal deposit. Personal checking accounts are almost unknown in Japan. Most individuals use bank transfers to settle accounts. Bank and other credit cards are easy to obtain and are widely accepted. Some bank credit cards offer revolving credit, but in most cases balances must be paid in full when due by automatic debit from one's bank account.