A funny sort of crisis
Article Abstract:
Takushoku Bank has been taken over by Hokuyo bank in a move that illustrates problems in the Japanese banking industry. The banks are unwilling to write off bad debts, and there is concern about the impact on the economy if they do so. Some half of Takushoku Bank's local company loans are bad debts and have been taken over by the Resolution Collection Bank, a government body. Hokuyo is committed to keeping local firms going, so cannot call in bad debts, and it is not willing to forgive them. The banks as a whole have forgiven few bad debts and few have been disposed of.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Mr Tanigaki's Augean stables
Article Abstract:
The problems of Japan's financial system have persisted, though the big national and regional banks are making progress. Smaller credit unions and local cooperative banks still need attention. The Financial Supervisory Agency (FSA) has a new head, Sadakazu Tanigaki. The FSA has started the process of inspecting credit unions and other smaller institutions. A number of them look set to go under. Consolidation has been a slow process, and the problems of the banking industry are likely to persist for some time.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 2000
User Contributions:
Comment about this article or add new information about this topic:
Debit banks: Japanese finance
Article Abstract:
Japan's top 20 banks reported stunning losses for 1995, including $107 billion in bad loan write-offs. The country's top three long-term credit banks had combined losses of 410 billion yen. The liquidation of seven mortgage lenders, or jusen, prevented losses from being even worse.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Sound strategy pays off. Asian banks for sale. Asian bond investors place a premium on quality issues
- Abstracts: APP unit credit rating cut. APP shares face delisting
- Abstracts: Novartis's net profit rises 13%, driven by a 19% sales increase. Swiss Life Shares Will Be Comatose Until Markets Revive
- Abstracts: New lines of communication. Pirates in the dock. PR's bull market
- Abstracts: Giants ride out the crisis. Europe's pocket fortresses