"Use deposit insurance?" Chino Masato frowned, "Is this a requirement of Iyo Bank?"
"Yes, Iyo Bank hopes that we can provide them with a low-interest loan of 900 billion yen, otherwise they will give up the merger of Toho Mutual Bank, which is on the verge of bankruptcy!" Mie Noyasu nodded solemnly, "According to the current situation, if Iyo Bank is not willing
If the merger is carried out, Toho Mutual Bank will inevitably go bankrupt, and it will be the first bank to go bankrupt! The public opinion storm and crisis it will bring may far exceed the 900 billion."
"Isn't there a way to get other banks to take action?" Deputy Prime Minister Watanabe Umeshio asked, "Although Matsuyama is remote, there should be many big banks settled in it."
"The problem is that no bank has the spare capacity to take action. We have to merge and reorganize Toho Mutual. We have calculated that the cost is about 500 billion yen, which is equivalent to Osaka's two-year budget. Unless the consortium is willing to take action, Toho Mutual can be merged.
It's obviously a loss-making business, and no one wants to do it." Mie Yeyasu sighed.
Current Tibetan Prime Minister Yoshiro Mori nodded in agreement: "Iyo Bank was willing to take action only because our bank staff came forward to persuade them, and they finally agreed. 900 billion yen was also the value after our negotiation."
Iyo Bank's argument is that "if the authorities do not provide rescue in the specific form we requested, it will be impossible to provide an explanation to shareholders and local stakeholders regarding the merger of Toho Mutual Bank." It can only be justified if it generates profits.
About two weeks before the merger, the financial turmoil had begun to sweep through the banking industry, with internal self-examinations at major banks, a large number of new bad debts, and alarming internal corruption issues emerging one after another.
The International Bank of Commercial Credit based in Luxembourg was ordered to suspend operations due to unfair operations, and its branch in Tokyo also issued a temporary suspension application to the Ministry of Finance shortly afterwards.
Japanese customers opened a total of 250 accounts in this branch, with deposits amounting to 125.5 billion yen. However, because they could no longer cash out, most depositors suffered inexplicable losses. Subsequently, the Tokyo District Court ordered the branch to conduct property preservation.
Processing and special liquidation.
This incident was actually the beginning of credibility problems in the banking industry, but after being jointly suppressed by the Ministry of Finance and the Bank of Japan, no major public opinion crisis broke out.
But if another bank fails, things will become unstoppable!
Everyone fell silent.
When these big guys gathered together, if it was just a matter of 900 billion yen, it would not be worth their presence. They understood that what really made them, the Bank of Japan and the Ministry of Finance nervous was the series of subsequent issues.
If deposit insurance is used, it will arouse public backlash and the current status of the banking industry will inevitably be questioned. The economic crisis is like a thin film. Once it is pierced, it can no longer be covered.
Miyazawa Kiichi felt very sad because he did not want a financial crisis of this scale to break out during his term. In this way, he would become Toshiki Kaifu's scapegoat and a prime minister who could not wash away his shame.
.
"Following Prime Minister Miyazawa's instructions, we will try our best to ensure the operation of all financial institutions while vigorously developing real industries and relieving those clubs that were damaged by the Gulf War but are still strong. We have a number of reported clubs here.
They will be included in our list of high-quality clubs, and in subsequent congressional resolutions, I will propose certain preferential and welfare policies for these clubs."
As the Minister of Trade and Industry, Chino Masato holds the power of commerce. Whoever he wants to support will get the full support of the country.
Miyazawa nodded happily and asked the secretary to distribute the list to everyone.
He also picked it up and took a look. Beiyuan Investment, which he thought would be on the list, did not appear!
Miyazawa Kiichi remembered that Kitahara Sosuke and Chino Rin were officially engaged, but the wedding date had not yet been decided. Since he was his son-in-law, why was his company not on the list?
There are others who are equally confused.
Chino Masato seemed not to understand the meaning in their eyes and lowered his head in silence.
At the top of the list is Daishowa Paper!
...
In the afternoon of the same day, Kithara Sosuke left the mansion, leaving behind a sleeping Kitano Ran and Uraike Sachiko, who was selflessly composing in the underground music room, and drove back to the Kyoto branch alone.
A few days ago, he went to the Department of International Trade and Industry and the General Affairs Department. Kyoto City banned Kitahara Services and Kitahara Entertainment from opening branches in Kyoto for various reasons. There was a vague shadow of the Chino family behind them. Chino Ryu kept his word, and Kitahara
Sosuke said he would start two industries that he was not optimistic about within half a year, so he tried his best to stop them and see how Kitahara Sosuke turned around.
Back at the Kyoto branch, the sales department staff on the first floor bowed in unison. They still had great respect for the vice president who had brought them great results.
After saying hello, Kitahara Sosuke walked upstairs and met Takashi Sato, the head of the financing department with a smile on his face, and Naganozawa Masaru, the president of Yamaichi Securities, who came out of his office.
The latter had communicated with Kitahara Sosuke at Uchida Hiroshi's banquet. At this time, his face was full of joy, and he came over with a smile and said hello.
His son Nobu Nagano successfully got engaged to Hiroshi Uchida's daughter Shizuko Uchida. Although the Uchida family plummeted due to Nissho Iwai's major mistakes in the Juliana Tokyo project, the Sanwa Foundation still supported the Uchida family, and Nissho Iwai still
If it belongs to them, then the Uchida family will still be one of the few wealthy families in Japan.
It's definitely not a loss to marry a rich girl from such a wealthy family.
"Aosuke, oh no, President Kitahara, long time no see." Nagano Sawa came over and patted him on the shoulder, and said sincerely, "I heard that you have been having trouble with President Totaro recently?"
"Huh? There is no such thing. Did Uncle Nagano hear wrongly?" Kitahara Sosuke responded with a smile.
"Ah, Sato-san said that you publicly stated at the meeting that you don't want to lend us money? Sosuke, I know that you are new here and you want to establish your prestige in Kyoto. But it's not what Uncle Nagano said about you. What you did is wrong and will only end up for yourself.
Invite more enemies."
Nagano Sawamasa sighed, his tone was very sincere, and he seemed to be thinking about Kitahara Sosuke.
"Even if you want to compete with President Tao Taro, you can't mess around with this matter. Oh, Sosuke, you probably don't know yet, but Yamaichi Securities has been selected for the 1991 Congressional Financial Support List. Starting this month
, we will be able to obtain massive resources and preferential benefits from the government. Of course, Shanyi Securities will also work hard to set an example and live up to the reputation of First Securities."
Congressional financial support list?
Kitahara Sosuke had heard about similar things from Hashimoto Shota. This was a major financial policy adjustment jointly submitted by the Ministry of Finance and the Bank of Japan, approved by the Prime Minister's Cabinet, and the actual plan was drawn up by Masato Chino.
To put it bluntly, it is to use huge resources to support some promising large-scale clubs and let them grow into leaders, thereby driving economic development.
From the perspective of purpose and means, there is no problem with this. In this era, Kitahara Sosuke even thinks that this move is very subtle and has a certain effect.
But I'm afraid the problem lies in that list.
Even clubs like Shanyi Securities were on the list, so he didn't bother to wait for the specific list to be announced.
"Ah, then congratulations to Uncle Nagano. Oh, by the way, I am opposed to the loan, not because I am fighting for power with the president, but simply because I feel..."
"Your company, Yamaichi Securities is too rubbish and will go bankrupt. Ah, I'm sorry, my words are a bit fierce. I hope Uncle Nagano doesn't mind. After all, he is a newbie here and just wants to establish his prestige in Kyoto. A young man who doesn't know how to adapt.