FRC declares Kansai Kogin, Tokyo Shogin insolvent

FRC declares Kansai Kogin, Tokyo Shogin insolvent

TOKYO, Japan - Hakuo Yanagisawa, chief of the government's Financial Reconstruction Commission (FRC), declares at a news conference in Tokyo on Dec. 16 Kansai Kogin and Tokyo Shogin insolvent, believing the credit unions are severely undercapitalized, and will appoint administrators to oversee them. The two will be allowed to continue operations under the administrators with their deposits fully protected, but will likely see many of their customers queuing up on Dec. 18 at their counters to withdraw deposits.

  • Product Code
  • ILEA001082703
  • Registered date
  • 2000/12/16 00:00:00
  • Credit
  • Kyodo / Kyodo News Images
  • Media source
  • 2000 Kyodo News
  • Media size
  • 1864 × 1713 pixel
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  • Deployment size
  • 1.56(MB)*
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*File size when opened in Photoshop, etc.

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