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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: TobagoJack who wrote (25250)11/10/2002 10:24:38 PM
From: elmatador  Read Replies (1) of 74559
 
Japanese bad loans 'understated by $109bn'
By David Ibison in Tokyo
Published: November 10 2002 20:47 | Last Updated: November 10 2002 20:47


Japan's Financial Services Agency has revealed for the first time that it believes bad loans at the country's banks are Y13,000bn ($109bn) greater than the banks say.

...The regulator said Y15,300bn in write-offs was required, 47 per cent higher than the banks' estimate of Y10,400..."

news.ft.com

And Jay keep saying the problem is Argentina and Brazil!!!
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