Failed Banks in Japan

David — Thu, 24 Sep 2009 06:16:58 +0000

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.

GlobalEconStats » Japan

Failed Banks in Japan