CHRONOLOGY

2005 Major banks' NPL Exposure pct halving target set in 2002 met as of March a notable Heizo Takenaka success
2001 Ex MoF Yanagisawa fails to postpone IMF FSAP and manage FSA warehousing of MoF's NPL roll forward
1991 Kiichi Miyazawa ineffectually draws attention to the NPL problem at the LDP Karuizawa Summer Conference
1990 Credit Bubble 1986 - 1990 punctured by forceful Bundesbank style Mieno MoF activates NPL roll forward

 

GLOSSARY

NPL roll forward not booking credit losses as they accrue MoF maintained pre tax profits so smoothing tax revenue cf hozei shonin ginko
niji sonshitsu secondary newly crystallised NPL losses deterioration of a bank's loan book after first bail-out cf contingent NPLs
CPA Certified Public Accountant konin kaikeishi term applied to the somewhat different JCPA cf professionals, NPL roll forward
FRC Financial Revitalisation Commission now FSA was an early interim provision of NPL smokescreen cover for MoF
FSAP Japan 2003 Article IV Consultations or IMF country surveillance Heizo Takenaka's work ensured that the NPL disclosure threat was averted
kashishiburi unwillingness to lend credit line reduction by balance sheet pressed banks cf NPL roll forward
sakinobashi roll forward as furyosaiken no sakinobashi NPL roll forward cf maladministration

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