EconomyReinvestigation reveals deep real insolvency as Hyogo Bank chief Yoshida sends SOS to banking authorities
After Japan’s bubble economy collapsed, Hyogo Bank fell into difficulty as the disposal of bad loans was delayed. The bank was also caught between differing inspection standards, worsening its predicament. Differences between the Finance Ministry and the Bank of Japan added to the strain. New president Masaki Yoshida struggled to steer the institution, while its assets deteriorated rapidly. The episode shows how Japan’s myth that banks could never fail began to collapse.
Reinvestigation reveals deep real insolvency as Hyogo Bank chief Yoshida sends SOS to banking authorities
Economy