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References in periodicals archive ?
Administrators of failed Ishikawa Bank have decided to temporarily hand over operations of the second-tier regional bank to the government-backed Bridge Bank of Japan, banking sources said Tuesday.
The Financial Services Agency (FSA) said Thursday it has decided to hand over the operations of failed Ishikawa Bank and Chubu Bank to the Bridge Bank of Japan, a state-run blanket acquisition bank charged with temporarily assuming the assets and deposit liabilities of failed banks.
Since the administrators could not find a private acquiring financial institution to take over the two banks, they asked the FSA to transfer the operations of the two to the Bridge Bank of Japan.
The Financial Services Agency (FSA) said Tuesday it gave a banking license to the Bridge Bank of Japan, a government-backed blanket acquirer bank charged with temporarily taking over the assets and deposit liabilities of failed banks.
In a press statement released the same day, the DIC said the Bridge Bank of Japan would take over the obligation to fully refund deposits at failed banks which cannot find acquirers by the end of March.