Japan bank lending surges at record pace in May as pandemic-hit firms hoard cash

TOKYO (Reuters) - Japanese bank lending rose at the fastest annual pace on record in May as cash-strapped companies tapped loans to meet immediate funding needs to survive slumping sales from the coronavirus pandemic, central bank data showed on Monday.The data suggests a raft of measures the government and the central bank took to channel money to ailing firms, including requests for financial institutions to boost lending, is working at least for now.Total bank lending by banks and "shinkin"..