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Japan Federation of Credit Guarantee Corporations

Confidence: Likely Updated 2026-05-25 Review by 2026-11-25 Sources 7 Machine-translated Original (JA)
#policy-finance#credit-guarantee#sme-finance#public-credit#federation#zerozero-loan
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This entry sits under policy-finance index as the federation / coordinating-body page for Japan’s credit guarantee system. Pair it with Japan credit guarantee system (the mechanism page) and the Japan policy finance system (the broader perimeter). Compare its role with the sector-specific federations covering agriculture and fisheries guarantees. Local member CGCs include Hokkaido CGC, Tokyo CGC, Osaka CGC, Aichi CGC, and Hyogo CGC.

TL;DR

The Japan Federation of Credit Guarantee Corporations (一般社団法人全国信用保証協会連合会, JFG / 全信保連) is the national federation for Japan’s 51 local credit guarantee corporations (47 prefectural + 4 city CGCs — Yokohama / Kawasaki / Nagoya / Gifu). It is not itself the guarantee system — it is the coordinating, research, training, system-administration, and financial-support body sitting above the 51 local CGCs and interfacing with JFC credit insurance and METI / SME Agency policy. Its most operationally significant function is administering the 責任共有制度 (responsibility-sharing system) financial flows nationwide. During the 2020–2022 ZeroZero loan rollout, JFG was the federation-level coordinator setting unified operational standards across the 51 CGCs and is now coordinating the post-COVID exit framework as the subrogation wave runs through 2023–2026.

1. 機関概要

項目内容
日本語名一般社団法人全国信用保証協会連合会
略称JFG / 全信保連 / 連合会
英語名Japan Federation of Credit Guarantee Corporations
法的形態一般社団法人 (general incorporated association)
会員51 local credit guarantee corporations (47都道府県 + 4市 — 横浜・川崎・名古屋・岐阜)
所在地東京都中央区日本橋
設立1951 (前身組織より連続) — 連合会再編は数次
監督官庁経済産業省 (METI) / 中小企業庁 (SME Agency)
関係機関JFC (信用保険), METI / SME Agency, 都道府県・市
FinWiki lanepolicy-finance — federation / coordinating-body page

2. 51 member CGC list

The 51 member CGCs cover all 47 prefectures plus 4 specially designated cities:

  • 47都道府県: 北海道, 青森, 岩手, 宮城, 秋田, 山形, 福島, 茨城, 栃木, 群馬, 埼玉, 千葉, 東京, 神奈川 (excluding Yokohama/Kawasaki city CGCs which are separate members), 新潟, 富山, 石川, 福井, 山梨, 長野, 岐阜 (excluding Gifu city CGC), 静岡, 愛知 (excluding Nagoya city CGC), 三重, 滋賀, 京都, 大阪, 兵庫, 奈良, 和歌山, 鳥取, 島根, 岡山, 広島, 山口, 徳島, 香川, 愛媛, 高知, 福岡, 佐賀, 長崎, 熊本, 大分, 宮崎, 鹿児島, 沖縄.
  • 4 市: 横浜市信用保証協会, 川崎市信用保証協会, 名古屋市信用保証協会, 岐阜市信用保証協会.

The 4 city CGCs exist because at the historical foundation of the system, the four cities had distinct industrial bases large enough to support their own credit guarantee corporations independently of the prefecture-level CGC. Coexistence with the prefectural CGCs (Kanagawa CGC, Aichi CGC, Gifu CGC) is operationally normal — the city CGC and prefectural CGC have geographic / administrative-boundary distinctions.

3. JFG role map

RoleDetail
Member supportFinancial / operational / IT / training support to the 51 local CGCs; standard operating procedures; risk-management coordination.
責任共有制度 administrationNationwide administration of the 80% / 20% responsibility-sharing financial flows between CGCs and lenders; central reconciliation.
Research / publications / statisticsAggregated CGC statistics (guarantee outstanding, 代位弁済, 求償, 求償権回収率, sectoral breakdown); industry research; SME-finance publications.
Federation pooled fundsManages federation-level pooled financial resources backing the system (capital injections, emergency support, loss-pooling).
Lender coordinationCoordinates with the All Japan Federation of Banks, Shinkin Central Bank, NCB (信組), and other lender bodies on system-wide product / process changes.
JFC interfacePrimary federation-level interface with JFC for credit insurance contract administration and operational coordination.
METI / SME Agency interfacePolicy implementation interface; central voice of the 51 CGCs in national SME-finance policy.
Crisis-mode coordinationFederation-level coordinator for crisis-era programs (1998 安定化特別保証, 2008 緊急保証, 2011 災害関係, 2020 ZeroZero).
Standardized product designDesigns common-template programs (creation, business succession, ABL, etc.) for nationwide deployment.
Information system / 連合会システムOperates federation-level IT systems supporting CGC operations.

4. ZeroZero national rollout 2020 → exit framework 2025

JFG was the operational federation-level coordinator for the 2020–2022 ZeroZero loan rollout (実質無利子・無担保融資) — see japan-credit-guarantee-system for system-level mechanics. JFG’s role:

PhaseJFG action
Program design (2020-04)Federation-level standardization of ZeroZero application form, lender-CGC operational interface, eligibility check, document standards.
Rapid rollout (2020-05 → 2020-12)Federation-level monitoring of 51-CGC processing capacity; coordination of system-wide bottlenecks; metric standardization.
Sustained operation (2021)Federation-level statistical aggregation; coordination of subsidiary programs (extensions, regional layered programs).
Origination close (2021-03 → 2022)Federation-level coordination of program-close mechanics; transition planning for unwind.
Workout / unwind framework (2022–2025)Federation-level guidance on borrower-by-borrower workout (借換 / 経営改善 / 事業承継 / 廃業 menu); “粘り強い支援” (patient support) doctrine.
Subrogation wave coordination (2023–2026)Federation-level statistical aggregation of 代位弁済 volume; coordination with JFC on credit-insurance claim processing; coordination with METI on residual policy support.
Bankruptcy data interfaceFederation-level coordination with bankruptcy / restructuring data providers on ZeroZero-related bankruptcy categorization.

The post-COVID exit framework (since ~2022) emphasizes patient borrower-by-borrower workout rather than enforcement-driven collection, reflecting both (a) policy direction to preserve viable SMEs through the unwind period and (b) recognition that mass-default scenarios would overwhelm CGC and JFC capacity. The framework includes specific 借換保証 / 経営改善 / 事業承継 / 廃業 product menus that JFG coordinates across the 51 CGCs.

5. Member CGC ranking by guarantee outstanding

Among the 51 member CGCs, the largest by guarantee outstanding (保証残高) typically include:

Rank tierCGCs (illustrative)Why
Top 5 (urban-industrial heavyweights)Tokyo CGC, Osaka CGC, Aichi CGC (+ Nagoya City CGC overlap), Kanagawa CGC (+ Yokohama / Kawasaki City CGCs), Saitama CGCLargest urban SME populations; high industrial concentration; ZeroZero-era heavy origination.
Mid tier (large regional / regional-industrial belt)Hyogo, Chiba, Fukuoka, Shizuoka, HokkaidoLarge SME bases with mid-density industrial / commercial / primary-industry mix.
Smaller-prefecture tierTōhoku rural (Akita, Iwate, etc.), Shikoku, Sea-of-Japan-side prefecturesSmaller SME populations; lower absolute guarantee balance but high per-capita policy weight.

Specific rankings vary by year and program mix; the top 5 are stable in identity (Tokyo / Osaka / Aichi / Kanagawa / Saitama) with Hyogo / Chiba / Fukuoka rotating in adjacent ranks. ZeroZero-era origination significantly affected the relative-balance ordering during 2020–2022, with subrogation wave through 2023–2026 now visible in the rolling balance trajectory.

6. Interaction with JFC 信用保険

The JFC 信用保険業務 (credit insurance business) is the reinsurance layer that absorbs residual CGC subrogation loss. JFG’s interface with JFC:

  • Federation-level coordination of credit-insurance contract terms applicable across the 51 CGCs.
  • Coordination of insurance-claim processing standards and timing.
  • Federation-level statistical aggregation feeding into JFC’s actuarial / reserve assessment.
  • Coordination on crisis-mode product design where the credit-insurance economics need federation-level alignment (e.g., crisis-related guarantee 危機関連保証 100% guarantee design with paired credit-insurance terms).
  • Joint policy interface with METI on combined CGC + JFC system economics.

JFC inherited the credit-insurance business from the predecessor 中小企業信用保険公庫 (1958), which was integrated into JFC in 2008 as part of the policy-finance reorganization. The credit-insurance business is now operated within JFC alongside JFC’s direct SME / small-business / agriculture-forestry-fisheries / international lending — see jfc.

7. Year evolution

YearEvent
1937東京信用保証協会 — first credit guarantee corporation.
1953信用保証協会法 enacted; nationwide CGC framework.
1951 →National federation predecessor organizations.
1958中小企業信用保険公庫 established (predecessor of JFC credit-insurance).
1998–1999安定化特別保証 — Asian-crisis emergency 100% guarantee program. JFG coordinated nationwide rollout.
2007-10責任共有制度 introduced — JFG administers the financial flows.
2008–2009緊急保証 — GFC emergency program.
2008-10JFC established; credit insurance integrated into JFC; JFG-JFC interface reorganized.
2011Tōhoku earthquake; 災害関係保証 widely activated; JFG coordinates federation-level response.
2020-05ZeroZero program launched; JFG coordinates rapid nationwide rollout.
2021-03ZeroZero origination closed.
2022–2025Post-COVID exit framework — 粘り強い支援 doctrine.
2023–2026Subrogation wave; JFG coordinates federation-level workout / restructuring.
2024–2025Continued focus on 経営者保証ガイドライン-aligned guarantees, business-succession guarantees, startup guarantees.

8. Boundary cases

  • Not JFC — JFC operates credit insurance and direct lending; JFG is the federation. They interface but are separate entities.
  • Not a local CGC — local CGCs perform borrower-facing guarantees; JFG supports / coordinates them.
  • Not agriculture / fisheries — agriculture / fisheries credit guarantee systems have their own sector federations and JAFFIC reinsurance, separate from JFG / JFC.
  • Not METI / SME Agency — METI is the policy supervisor; JFG is the federation administering the system on behalf of the 51 CGCs.
  • Not a lender — JFG does not guarantee borrowers directly; the local CGCs do.

Sources