なぉ, old Sakamoto and Yinben stores のは, now, Wakayama City Fire Department? Wakayama Central Fire Department Contract.
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1925 Jinan endless co., ltd and OTA city, Wakayama were established. Later, 1926 までに, Shingong Endless Co., Ltd.? Fortune Endless Limited Company was established one after another.
In August of the same year, 194 1, までに, Shangji 3 Co., Ltd. merged in turn, and Jixing Endless Co., Ltd.
195 1, 1, implementation of mutual bank law, change of mutual bank format. Hing kee mutual bank limited.
65438+February 0989 The second local bank. Bank of Sakwa is a company.
1989 12 1 Osaka Stock Exchange No.2 went online (use してたコード: 8557).
1On August 5, 993, the vice president of Huachuan Bank was shot.
1March 1995 series のノンバンクククククククををを.
July 7th 1995, and the last one is Xinjiujian (しんきょたけしし).
1996165438+1October 2 1, and the interim final accounts are overdue. The provincial government, article 26 of the banking law, and the order to stop business other than advance payment.
1997 after the loophole appeared on April 9, the financial machine was rescued and deposited in advance.
1997165438+1Oct. 3 1992 There were five employees in Hashimoto at that time, so there is no doubt that the financing was improper.
1998 65438+1October 26th, Jiyi Qianjin Management Bank, Sakan Bank and Banking Bank crossed the line. On the same day, Huachuan Bank was dissolved.
On March 3, 2002, KLOC-0, Jiyi Prepaid Management Bank was dissolved. Need "no advance payment" and "trust" from Wakayama Local Legal Affairs Bureau.
The fifth interim liquidation meeting ended on June 5438+1October 365438+1October 0, 2003. (At that time, "なぉこのまでははなでぁりでのの"
The financial crisis is a herd effect. A flock of sheep are quietly grazing on the hillside. Suddenly, a sheep felt the signal of danger. It may really see the greedy eyes of the hungry wolf in the grass, or it may be purely out of inexplicable fear. The sheep suddenly ran wild, and the other sheep ran away with it. In a flash, only dust remained on the hillside.
Hedge funds are probably the most sensitive sheep. But if there is only one sheep, the herding effect will not happen and the financial crisis will not happen. Although hedge funds were criticized in the East Asian financial crisis, such as at the meeting of the International Monetary Fund held in Hong Kong in September, 1997, Malaysian Prime Minister Mahathir publicly accused Soros. He even said that the financial crisis was a Jewish conspiracy, because Jews like Soros did not want to see the progress of Muslims, so they deliberately launched currency speculation. Eichengreen and Matheson published a report on hedge funds and financial crisis in 1998. They point out that hedge funds and other institutional investors are much smaller than funds, pension funds and insurance companies. At that time, it was estimated that the size of hedge funds was $654.38+050 billion, but the size of pension funds was $ 6543.8+03 trillion, and the same fund size was $7 trillion. When the East Asian financial crisis broke out, not all investors fled hastily, and not all investors withdrew at the same time at the first time. The first to withdraw from Thailand was not institutional investors, but commercial banks. From 1994 to 1996, commercial banks and equity investors accounted for most of the capital flowing into East Asia. From 1996 to 1997 in the third quarter, investors and non-bank lenders of Eurobonds still provided funds for East Asia, but the equity investors of commercial banks have withdrawn. 1997 after the third quarter, private investment withdrew across the board, and official capital such as loans from the International Monetary Fund replaced private capital to provide financing for East Asia. Therefore, the fundamental cause of the East Asian financial crisis is the withdrawal of commercial banks.
Japanese commercial banks bear the brunt of the divestment frenzy of commercial banks. According to the research of michael king of London School of Economics, about 1/3 of the capital flight in East Asia from mid-1997 to mid-1998 was Japanese capital flight, with a scale of about $23 billion. Japanese commercial banks withdrew $654.38+02 billion in loans from Thailand, $8 billion from South Korea and $4 billion from Indonesia. As early as before the financial crisis in Thailand, Japanese commercial banks began to withdraw their capital. 1In March 1997, a stampede occurred in Thailand, and the share price of financial banks plummeted. Within a few days, the $800 million deposit of the problematic financial company was raised by the public. Japan's commercial bank immediately responded to this, withdrawing its loan of $4.6 billion in the following six months.
Why are Japanese commercial banks in such a hurry to withdraw loans? The main reason is that commercial banks in Japan have become more and more frightened and sensitive to any storm that may lead to the increase of bad debts since the bubble burst in Japan's real estate market and stock market in 1990 and the financial crisis in 1995.
After entering the 1990s, due to the domestic economic downturn, Japanese banks began to increase foreign loans. A large number of loans were given to branches of Japanese companies in East Asia. Japanese commercial banks' loans to East Asia reached US$ 275 billion, accounting for 1/3 of the transnational loans in this region. Of the overseas loans provided by Japanese commercial banks, 54% came from Thailand, 39% from Indonesia and 36% from Malaysia. However, after 1990s, Japan's financial industry encountered more and more difficulties. After the stock market price continued to drop from 65438 to 0990, on the one hand, non-performing assets increased, on the other hand, the proportion of self-owned capital decreased significantly. From 65438 to 0995, the financial crisis broke out in Japan, and two credit cooperatives, Tokyo Concord and Safety, ran on each other. Then, Cosmos Credit Union, Hyogo Bank, Pacific Bank and Sakamoto Bank went bankrupt one after another. Non-performing assets of specialized residential finance companies with far-reaching influence in Japan increased substantially around 1993 and were forced to liquidate. At the same time, Japanese banks are also under pressure to join the Basel Accord. If any bank can't raise its capital adequacy ratio to more than 8% according to the requirements of Basel, it can't set foot in the lucrative international market business. Under this pressure, Japanese commercial banks have to withdraw overseas loans to reduce the proportion of non-performing loans. During this period, the fluctuation of the yen exchange rate also affected the operation of Japanese commercial banks. When the Japanese yen appreciates, Japanese commercial banks can get unexpected profits from overseas loans, but when the Japanese yen depreciates, the arbitrage transactions they engage in turn become losses.
Against the background of sluggish domestic stock market and real estate market, the assets of Japanese banks are shrinking. Under the pressure of Basel agreement, Japanese commercial banks have to reduce the loan scale. The frequent fluctuation of the yen exchange rate makes it difficult for Japanese commercial banks to control risks, and after the bubble of Japanese stock market and real estate market burst on 1990, Japanese commercial banks became more alert to the risks of the stock market and real estate market. Therefore, when Thailand, South Korea and other East Asian countries experienced overheating of the real estate market, bankruptcy of companies and bank run of financial institutions in early 1997, Japanese commercial banks fled the fastest. In fact, this can explain why the East Asian financial crisis first occurred in Thailand, not South Korea. After all, at the beginning of 1997, the problems exposed by South Korea attracted more attention. 1997 1 10 In October, Hanbao Iron and Steel Company, the second largest steel enterprise in Korea, declared bankruptcy. The investigation confirmed that Hanbao's bankruptcy case involved dozens of dignitaries in Korean politics, finance and business, and even Hyun Chol Kim, the second son of president Jin Yongsan, was arrested and sentenced. 1In March, 1997, Sanmei Iron and Steel Plant, the flagship enterprise of Sanmei Group, another Korean consortium, declared bankruptcy, which caused quite a shock in the world. However, the difference between Korea and Thailand is that its loans from Japanese commercial banks account for only 25% of its overseas loans, while Thailand's loans from Japan account for 50% of its overseas loans. Whoever is closest to Japan will be abandoned first.