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Gold/Mining/Energy : Gold Price Monitor

GDXJ 118.97

-0.9%

Dec 24 4:00 PM EST

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To: Bobby Yellin who wrote (3231)	11/17/1997 4:35:00 PM
From: lorne	Read Replies (2) of 116823

Hi Bobby Wonder if our banks will have their turn Hokkaido Takushoku fails/Becomes 1st major commercial bank to go belly up ------------------------------------------------------------------------ Yomiuri Shimbun The Bank of Japan on Monday extended to Hokkaido Takushoku Bank an unsecured loan estimated at 600 billion yen, according to banking sources. The loan, offered without requiring collateral, was granted by the central bank based on Article 25 of the Bank of Japan Law, which stipulates that the central bank may make such loans to protect the nation's financial stability. The last time the central bank extended such a loan was when Hanwa Bank, a second-tier regional bank based in Wakayama, went bankrupt last November. The Bank of Japan has also announced its intention to extend an unsecured loan to Kyoto Kyoei Bank, another second-tier regional bank, which declared bankruptcy on Oct. 14, but the measure has yet to be implemented.

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