Chapter 537: Collective Ascension
Shirakawa Kaede was not surprised at all that Takahashi accepted the conditions he proposed.
He knew that EIE was already at the end of its rope, and if it didn't find a source of funding, an avalanche would be waiting for it.
After Takahashi becomes the chairman of Credit Group 2, will he embezzle funds to fill the vacancies of EIE?
To be honest, Baichuan Feng is not worried about this matter at all.
When a person is in desperate situation, he will grab everything he can around him.
Putting Credit Group 2 into his mouth at this time would be like throwing a piece of bloody fresh meat in front of a tiger that has been hungry for three days.
He would definitely rush in without hesitation. He was almost starving to death, so why would he care about the consequences?
The same is true for Changxin Bank. Since the other party has given up EIE, Takahashi doesn't care about breaking up with the other party.
So we have the current scene. Takahashi, like a mad dog, told everything about his relationship with the Ministry of Finance.
He now has only one goal, which is to raise funds for EIE to get through the difficult times.
In fact, the amount of money does not need to be too much, a few hundred billion yen is enough, and Kitato Bank can fully afford it.
But will Baichuan Feng pay this money? Don't even think about it!
EIE's fate was sealed; it died last year.
Even if there is a second credit group to perform life-extending surgery later, it will only be a last gasp.
What will be the final outcome for Takahashi who embezzled funds?
The Tokyo Metropolitan Police Department and the Special Investigation Department are waiting for him, and working on a sewing machine is his final destination.
Although EIE was finished and Takahashi would go to jail, they helped Shirakawa Kaede accomplish one thing.
That is to push Changyin further into the abyss. It will happen soon. It will happen soon.
There is no doubt that with Takahashi's personal testimony, Changyin's previous denial has been refuted.
Horie, the president of Nagai Bank, was severely slapped in the face and had to resign.
Faced with the media's wanton ridicule, Chang Hwa Bank's stock price has reached a dangerous level of 200 yen.
What’s even worse is that as land prices continue to fall, Changyin’s bad debts are increasing.
In the most critical moment, Changyin Bank could only ask the Ministry of Finance for help.
As a former special bank, and with state-owned assets, the government will certainly not sit idly by and watch China Everbright Bank collapse.
Congress then set up the "Long-Term Credit Supplement Relief Group" to analyze Long-Term Credit Supplement's non-performing assets.
However, when facing the government's investigation, Changyin only took out the information he had specially prepared for the Ministry of Finance.
Based on the belief that "Chang Hsin Commercial Bank must not be allowed to go bankrupt", the Ministry of Finance allocated 2.8 trillion yen in special funds to alleviate the bad debt pressure of Chang Hsin Commercial Bank.
The funds were disbursed quietly and without deliberate public reporting.
Because at that time, all banks in Japan, big and small, had more or less bad debt problems.
At this time, the Ministry of Finance rescued Chang Hsin Bank, so should other banks be rescued?
You have to know that the "bank invincibility myth" is a creed that the Ministry of Finance itself strives hard to maintain.
So Changyin needs to be rescued, but it must be kept low-key.
With a big boost from the Ministry of Finance, Chang Hwa Bank seems to have temporarily escaped the pressure of bankruptcy.
However, Baichuan Feng and the others were not in a hurry at all, as this was all within the expectations of Kitato Bank.
As for Chang Hung Commercial Bank, one of the three major banks, the government will not sit idly by.
It will take some time to achieve the final goal.
Of course, Kitadu Bank was not idle during this period. While its peers were stuck in the quagmire, Kitadu Bank was flexing its muscles.
Aren’t other banks running out of cash flow? Come to Beidu.
As long as the company's risk control review is fine, Beidu Bank has plenty of funds.
Look, Toyota was the best advertisement not long ago.
It's just a few hundred billion yen, just sprinkle some water~
As an urban bank, Kitato Bank not only serves consumers but also provides corporate financing loans.
Tokyo Electric Power, Nippon Steel, Toshiba and other top-notch companies have gradually begun to cooperate with Kitato Bank.
Because of its prudent investment in real estate, Kitato Bank has a large amount of cash flow.
Among them, deposits from depositors are the bulk, including corporate depositors and individual depositors. This part of funds alone exceeds 8 trillion yen.
Combined with Shirakawa Holdings' own assets, Kitato Bank can mobilize more than 10 trillion yen.
Such a huge amount of cash flow can only create wealth if it is spent.
Therefore, as Kitato Bank made a series of moves, its status among urban banks rose sharply.
Especially now, people have a surprisingly good impression of Kitato Bank.
Because according to the financial reports released by the latter, it has never invested in real estate on a large scale.
In other words, Kitato Bank is not the culprit for the surge in land prices.
It is just an ordinary bank that does financial business in a down-to-earth manner. This prudent style is very suitable for the Japanese people who have washed away all the makeup and makeup.
The bubble has burst and the land myth has become a laughing stock.
What people need at this time is a solid and reliable banking institution, not a vampire bank that only knows how to take advantage of opportunities.
With the superposition of these two layers of buffs, Beidu Bank even experienced reverse growth in its business.
In a time when the financial industry is in depression and scandals are rampant, it is hard to find a reliable and secure bank.
However, the pursuit of fame is not over yet.
In September, Kitato Bank announced that it could provide "special loans" to ordinary families who only own one house.
The so-called special loans are to provide intermediate working capital at extremely low interest rates to families who are unable to repay high mortgage loans.
This welfare measure was originally established only for members of Shirakawa Holdings.
With the collapse of the property market, countless people suffered.
During the bubble era, there were many people speculating in real estate under the Shirakawa Group.
Now that land prices have plummeted, those families who bought at high prices have instantly fallen into financial difficulties.
Various welfare bonuses of enterprises have been greatly reduced, but extremely high loans still exist.
The employees are already overwhelmed just by paying the loans every month, not to mention they have families to support.
So in order to appease their own employees and to establish the corporate image.
Shirakawa Electric was the first to announce a "special loan" for employees who own one house.
Beidu Bank will step in and use the employees' salaries as collateral, and a sum of .
In this way, the money employees need to pay out of their own pockets will be reduced a lot, and the pressure will be much less.
Of course, their monthly salary will be a little less, and the shortfall will be used to pay the interest to Beidu Bank.
However, compared with the greatly reduced lending, the loss of wages is insignificant.
After two months of trial operation, this measure has been extended to all subsidiaries of Shirakawa Holdings.
As expected, since the "special loan" was introduced, the employees' loyalty has reached a new level.
Now, in order to establish the image of Kitato Bank, this measure will also be promoted to the public.
Of course, considering funding issues, the number of people who can apply for special loans is limited each month.
Not only that, the review will be relatively strict, and at least a stable job is an indispensable condition.
But no matter what, this can definitely be regarded as a good policy, especially in Japan which is hit by the financial tsunami.
This move by Kitato Bank was not only praised by the media as the "ark in the tsunami", but the Japanese government also singled out Kitato Bank for praise.
Strong financial resources, stable and reliable management policies, and good policies established with consideration for the people.
Look at these, they are simply the white lotus in the banking industry, the unparalleled saints!
With this wave of fame, Beidu Bank has made a lot of money.
Now let’s look back at China Everbright Bank.
Despite the strong support from the Ministry of Finance, its business situation has not improved at all over the past few months.
The 280 million yen investment seemed to have gone down the drain, without any sound at all.
By the end of the year, Changxin’s publicly released financial report showed no change in its non-performing assets.
The Ministry of Finance, sensing something unusual, began to request that a working group be sent to Changchun Bank.
But Changyin either shirked responsibility or simply did not respond.
Just as the Ministry of Finance was preparing to take further measures, the preliminary trial of the Hayama incident, which had been under investigation for more than a year, finally completed.
Not to mention Fuji Bank, those who are in jail are in jail, and those who are on probation are on probation.
Kawamura, who attended the meeting with Shirakawa Kaede and others at the Industrial Bank last time, has been arrested.
At the same time, the "Onoue Witch" did not escape her fate and has been officially detained by the Osaka police.
According to data released by the special investigation, personal loans amounted to 2.7 trillion yen by the end of the 1990s.
Osaka Prefecture's annual budget is only 1.1 trillion yen, and Onoue's borrowing is more than twice that.
The interest generated by these huge debts alone was more than 100 million yen per day , while Onoue's own assets were only more than 200 billion.
If nothing unexpected happens, Industrial Bank and Dai-ichi Kangyo Bank will both suffer huge losses.
There are already enough bad debts caused by the collapse of land prices, and now there is another one.
The finances of these two banks are not very good, and it may be another one of them that will be destroyed.
Also because of the relationship of interest transfer with the general association, a group of people from Dai-ichi Kangyo Bank, Nomura Securities, Yamaichi Securities, Sanwa Bank... were all arrested.
A total of three presidents, seven bank governors, ten executive directors and eleven ministers were sentenced and fined.
It can be said that the top executives of the financial industry were almost wiped out, and Japan’s bank credit crisis broke out first.
Because so many people are involved, people's distrust of banks and financial institutions has intensified.
Even in the eyes of some extremists, the banking industry is the culprit for the collapse of Japan's real estate market.
Bad debts and non-performing assets have already made banks breathless, and now they are facing a credit crisis.
Under the double blow, signs of collapse have already appeared.
Maybe there seems to be something unusual on the surface now, but the hidden dangers are becoming more and more apparent.
The Ministry of Finance became somewhat panicked after noticing the abnormalities in the financial industry.
If the financial industry collectively rises, the Ministry of Finance will exist in name only.
In order to prevent the situation from further deteriorating, the government had no choice but to prepare to convene Congress again.
The topic of this discussion is how to save the banking industry and eliminate hidden dangers?
In less than half a year, first it was China Merchants Bank, and now it is the entire banking industry.
The situation changes rapidly, and it is really overwhelming.
By the way, speaking of Chang Hwa Bank, the Ministry of Finance is not going to delay its investigation any further.
