CHRONOLOGY

2003 Banking Crisis contained under BoJ + FSA co-operation and Takenaka manages the IMF FSAP successfully
2002 Takenaka appointed FSA Minister launches heavily diluted Swedish style plan to resolve major banks' NPLs
2001 Ex MoF Yanagisawa fails to postpone IMF FSAP and manage FSA warehousing of MoF's NPL roll forward
2000 FSA predecessor FRC reports having employed JPY7.8tr over 1998 - 2000 to recapitalise failed banks
1999 FSA predecessor FRC reports injecting JPY8.3tr in 1998/99 into the major banks' equity 'at their request'

 

GLOSSARY

FSA Financial Services Agency kinyucho under Heizo Takenaka successful resolution of NPLs now being de-emphasised
Financial Services Agency FSA kinyucho was set up to warehouse NPLs now being squeezed between BoJ and MoF
banking crisis resolution cost being 5 GDP percent or more much FSA study of classic Nordic Two cf Finland, Sweden, sakinobashi
FRC Financial Revitalisation Commission now FSA was an early interim provision of NPL smokescreen cover for MoF
FSAP Japan IMF Financial System Assessment Programme highly unwelcome FSA competency audit cf Article IV, maladministration
hokokusho report as yukashoken hokokusho long form securities report filed with the FSA cf yuho
SESC Securities and Exchange Surveillance Commission commission to upgrade supervision but also cover for FSA cf nigemichi
yuho yukashoken hokokusho a clumsy bureaucratic financial results report required filing with FSA within 45 days of the balance sheet date vs kessan tanshin
yukashoken hokokusho a clumsy bureaucratic financial results report required filing with FSA within 45 days of the balance sheet date cf kessan tanshin

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