Failed Banks in Japan
Japan had its last bank failure in 2002. Chubu Bank failed in 2002 and required assistance from the Deposit Insurance Corporation of Japan. Around 52 banks failed in 2002, the highest in recent years according to the chart below:
Source: IMF
The failed list of banks in Japan include:
(as of December 29, 2002)
| Failed Financial Institutions | Date of management order | Date of business transfer agreement signed | Date of business transfer | Assuming Financial Institutions |
| Kokumin Bank | Apr. 11, 1999 | Mar. 7, 2000 | Aug. 14, 2000 | Yachiyo Bank |
| Kofuku Bank | May 22, 1999 | Oct. 6, 2000 | Feb. 26, 2001 | Kansai Sawayaka Bank |
| Tokyo Sowa Bank | June 12, 1999 | Jan. 25, 2001 | June 11, 2001 | Tokyo Star Bank |
| Namihaya Bank | Aug. 7, 1999 | July 28, 2000 | Feb. 13, 2001 | Daiwa Bank and Kinki Osaka Bank |
| Niigata Chuo Bank | Oct. 2, 1999 | Dec. 21, 2000 (Towa Bank signed on Dec. 22, 2000) |
May 14, 2001 (Daishi Bank signed on May 9, 2001) |
Taiko Bank, Daishi Bank, Hachijuni Bank, Higashi-Nippon Bank, Gunma Bank and Towa Bank |
| Nichinan Shinkin Bank | Nov. 19, 1999 | Oct. 20, 2000 | Mar. 26, 2001 | Nango Shinkin Bank |
| Kansai Kogin Credit Cooperative | Dec. 16, 2000 | Jan. 17, 2002 | June 17, 2002 | Kinki Sangyo Credit Cooperative |
| Chogin Tokyo Credit Cooperative | Dec. 29, 2000 | Dec. 17, 2002 | Dec. 29, 2002 | Hana Credit Cooperative Rcc |
| Ishikawa Bank | Dec. 28, 2001 | Mar. 28, 2002 ( with BBJ ) Dec. 27, 2002 |
Mar. 24, 2003 | (through BBJ) Hokuriku Bank, Hokkoku Bank, Firs Bank of Toyama, Kanazawa Shinkin Bank, Noto Shinkin Bank |
| Sogo Shinkin Bank | Jan. 25, 2002 | Feb. 20 2002 | June 10, 2002 | Osaka Shinkin Bank |
| Chubu Bank | March 8, 2002 | Mar. 28, 2002 ( with BBJ ) Dec. 6, 2002 |
Mar. 3, 2003 | (through BBJ) Shimizu Bank, Shizuoka Chuo Bank, Tokyo Star Bank |
Source: Deposit Insurance Corporation of Japan
Over 90 banks have failed in the U.S. syear to date.For a listing of failed U.S. banks go here.
Did you enjoy this post? Why not leave a comment below and continue the conversation, or subscribe to my feed and get articles like this delivered automatically to your feed reader.
Comments
No comments yet.
Leave a comment