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To: NOW who wrote (83857)	3/21/2001 11:48:51 PM
From: NOW	Respond to of 436258

Per m. Armstrong: "However, Phase III of Big Bang due in April 2001, not only imposes new mark-to-the-market accounting standards upon the corporate and banking sectors, but it also establishes a maximum insurance on bank deposits of about $100,000 per person. There is a quiet growing fear that if the banking crisis is not solved and soon, there could be a massive run on the banks by the public and corporations that would then force the government of Japan to pay up on its guarantee to cover 100% of all deposits nationwide. This issue of the government guaranteeing 100% of all deposits within the Japanese banking system is the leading motivation behind why there has NOT been a massive public run of the banking system to date. A few of the very biggest industrial corporations in Japan have also been supporting the banks by maintaining cash deposits of more than $15 billion spread among several of the problem banks. To some extent, this is at the request of the government with implied guarantees of 100%. If these corporations will lose that guarantee, there is at least $50 billion that will be withdrawn from the banking system before 2001 by the major corporations in Japan. "