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RCC – Secondary Losses of Jusen Account

(billion yen)
  FY 1996 FY 1997 FY 1998 FY 1999 FY 2000 FY 2001 FY 2002 FY 2003 FY 2004 FY 2005 FY 2006 FY 2007 FY 2008 FY
2009
1st Half
Total
Secondary losses -- 25.2 51.6 82.3 96.0 81.1 120.6 139.8 156.7 133.2 71.2 109.7 77.3 5.9 1,150.3
1/2 of Secondary losses -- 12.6 25.8 41.1 48.0 40.6 60.3 69.9 78.3 66.6 35.6 54.9 38.6 2.9 575.1
Gains on collection 0.9 12.6 26.1 43.1 48.4 38.5 10.2 7.1 7.5 5.4 7.2 4.9 5.3 0.7 218.0
Payment to national treasury 0.9 0 0.3 2.0 0.4                   3.5
Losses to be covered by subsidies           2.1 50.1 62.7 70.9 61.2 28.4 49.9 33.3 2.2 360.7
 
Note
1: Totals do not necessarily equal the sum of the amounts due to rounding off to the nearest ¥0.1 billion.
2: Regarding the secondary losses caused by resolution of Jusen companies,
  1) a half of the losses shall be compensated by investment profit of the Financial Stability Fund contributed by financial institutions, i.e. grant of business development subsidies (so-called burden share by the private sector); and
  2) the other half shall be offset by gains on collection, and the remaining losses after that, if any, shall be covered by subsidies granted to RCC through DICJ within the limit of government subsidies.
 
Reference
(billion yen)
  FY 1996 FY 1997 FY 1998 FY 1999 FY 2000 FY 2001 FY 2002 FY 2003 FY 2004 FY 2005 FY 2006 FY 2007 FY 2008 FY 2009 FY 2010 Total
Subsidies granted from Financial Stability Fund -- -- 12.6 12.4 10.8 10.7 12.6 13.5 15.7 16.0 12.7 13.4 12.6 6.0 0 149.0
Subsidies payable from Financial Stability Fund -- -- 0 23.1 33.4 39.4 26.5 42.3 59.9 62.8 53.9 22.2 42.2 32.6 2.9 441.3
 
Note
1: Totals do not necessarily equal the sum of the amounts due to rounding off to the nearest ¥0.1 billion.
2: A request of RCC for subsidies and grant of subsidies by the DICJ are made in the following fiscal year, e.g., a request for and grant of subsidies regarding the secondary losses in FY2009 are made in FY2010.
3: Subsidies from the fund include the amount equivalent to interest on borrowings to finance non-performing assets* contained in initially assumed claims.  (* Claims recognized clearly not repayable in consideration of the financial situation of the debtors when such claims were assumed).
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