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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Henry Volquardsen who wrote (310)	6/29/1998 12:02:00 PM
From: Chip McVickar	Read Replies (1) of 3536

Japan has announced that it is planning for a US-style 'bridge bank' to absorb much of the assets left by financial institutions that fail. Those debts are expected to be about 77 trillion/$546 billion. It will be similar to the Resoultion Trust we saw here, but altered to comply with Japanese Law....specifically the Japanese commercial laws regarding the ownership rights of banks' shareholders. Funds for the 'bridge bank' will be taken from 30 trillion yen already set aside and originally designed to protect depositers. (Nihon Keizai newspaoer) Final plan will be presented for vote by 2 July said chairman Yasuoka. Fiancial officials from the worlds industrial nations came to Tokyo last week to secure a pledge from Japan that it would strengthen its financial system. [Paraphrased from Boston Globe article - 29 June] China t-all must have cut a deal, such a wellspring of convivial fellowship. Chip

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