著者

中野 瑞彦

出版者

桃山学院大学

雑誌

桃山学院大学経済経営論集 (ISSN:02869721)

巻号頁・発行日

vol.57, no.3, pp.101-130, 2016-03-03

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Resona Bank reimbursed the public fund in June 2015 which had been injected in March 1999. The capital to asset ratio of the bank had been less than 4% which was the minimum requirement for running domestic banking business. The main purpose of the injection was to keep the stability of the financial system by preventing a big bank from collapsing. After the injection the bank restructured their business and accumulated reserves for repayment. But it took more than 16 years to reimburse the public fund. Tax payers had incurred a risk of loss for such a long time. It should be evaluated whether the public injection into Resona Bank was useful in terms of the stability of the financial system. After 2006 the public fund has been injected into some of the regional banks under the new act and scheme. Its original aim was to support a disposal of the non-performing loans of the regional financial institutions and to promote an integration of them. But the original aim faded away through the two revisions due to the Lehman Shock and the East Japan Great Earthquake. As a result the aim of the act and the scheme has been changed to provide regional financial institutions some resource to sustain their lending to the SMEs that were suffering from the economic downturn. In reality the act and the scheme have become a measure to rescue an individual financial institution itself rather than to keep the stability of the regional financial system. It is important to re-consider a meaning of the public fund injection. A loss of the fund will be finally incurred by tax payers. Most of remote areas in Japan have a few serious economic problems such as an aging population and deindustrialization. It will finally result in a contraction of financial business there. The regional financial institutions are required to supply a risk money and offer a highly professional business consultation to their clients. They need to strengthen themselves in both finance and management for the future. The public fund should be utilized to promote an integration of regional financial institutions rather than to help their independence as an individual entity.