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Non-Tech : Shorting the Big Banks (e.g. JPM, BT, CMB, CCI) -- Ignore unavailable to you. Want to Upgrade?

To: BDR who wrote (151)	10/6/1998 12:03:00 AM
From: BDR	Respond to of 268

nytimes.com Japanese Tell U.S. That Their Banks Are in Big Trouble By DAVID E. SANGER WASHINGTON -- Japan's top financial officials told their American counterparts this weekend that their country's banking system was acutely short of capital, with the top 19 banks in deeper trouble than Tokyo has ever before admitted, according to officials familiar with the discussions. At a private meeting Saturday, the governor of the Bank of Japan, Masaru Hayami, told Treasury Secretary Robert Rubin and Alan Greenspan, the chairman of the Federal Reserve, that the capital supporting those 19 major banks has dwindled to dangerously low levels in recent months. The capital reserve levels are now so low that these banks of the world's second largest economy might be banned from operating internationally "if the rules were vigorously pursued," said a senior Japanese official, relating the conversation. But on Sunday, in a reflection of the enormous confusion surrounding Japan's financial crisis, other senior Japanese officials disputed Hayami's presentation and insisted that the reserve levels have not declined to dangerous levels.