Officials send crucial banking bill to parliament
Article Abstract:
Members of the Japanese Liberal Democratic Party have issued a bill that would allow public funds to be infused with the capital of financially beleaguered banks. The proposal, aimed at enhancing the financial sector's credit capacity, was issued after banks endured severe funding shortage due to bad loans. Passage of the bill manifested immediate positive results to the stock markey, as it forced the Nikkei Stock Average to increase by 6.2%. The proposal particularly authorizes legislators to write off bad loans to provide leverage to struggling financial institutions.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Tokyo unveils comprehensive five-year bank bailout plan
Article Abstract:
Japan's Liberal Democratic Party, in coordination with the Japanese cabinet and six other regulatory agencies, disclosed an extensive five-year plan to establish a bridge bank to seize control over a group of banks regarded to fragile to survive. Government administrators would head the banks for a year or two and would also go through the banks' loans to separate the good from the bad. The plan would, in effect, help allay fears of a credit crunch in the country.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Political fight looms over reform plans for bank system
Article Abstract:
The efforts of Japanese Prime Minister Keizo Obuchi's new government to rally some policy headway by endorsing new banking reform bills and enhancing details of a tax-break plan has met been opposed by the opposition Democratic Party. The opposition reported it will present rival bank-bailout bill to the existing emergency so-called bad-loan parliament session. The two sides admit the possibility of a standoff.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Comment about this article or add new information about this topic:
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