Japan: housing lenders bailout approved

Article Abstract:

Japan voted to allot $6.7 billion to help seven mortgage companies that were suffering financially due to the amount in loans they issued during the real estate boom in the 1980s. The bad loans at the seven companies involved account for about one-sixth of the bad loans in the country.

Financial services industry, Financial services, Mortgage banks, Credit unions

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Japan: '96 budget passes after bailout row delay

Article Abstract:

The Diet has approved a $715 billion budget for fiscal 1996. The budget had been delayed in the lower house due to controversy over using government monies to bail out seven mortgage lenders. Bank losses, resignations of bankers and other topics are discussed.

Banking industry, Budget, Budgeting, Budgets, Japan. Diet

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Bailout agency cuts cost estimate

Article Abstract:

The estimate of the total cost of the savings and loan bailout has been reduced to $130 billion, 19% less than the top estimate of $160 billion. Resolution Trust chmn Albert V. Casey credited lower interest rates for the decrease.

Economic aspects, United States. Resolution Trust Corp., Savings and Loan Associations Bailout Crisis, 1987-

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