The Second Repayments of Tenders to DICJ-represented Depositors of Former "Incubator Bank of Japan"

Date: October 2, 2014

The Deposit Insurance Corporation of Japan (hereinafter referred to as “the DICJ”) decided to make the second repayments of tenders to DICJ-represented Depositors of former “Incubator Bank of Japan” (currently the Liquidated Company of the Incubator Bank of Japan; hereinafter referred to as “LCIBJ”).

1. Outline

With regard to repayments associated with the failure of LCIBJ, the DICJ has been carrying out procedures, etc. on behalf of depositors for the deposits at LCIBJ beyond those protected by deposit insurance (Note 1).

(Note 1) Those who requested purchases of deposits and other claims (the estimated proceeds payment) as well as who submitted notifications to participate in the rehabilitation procedure by themselves are excluded. Regarding those who requested the estimated proceeds payment, please refer to our release titled The Second Final Settlement Payments Concerning the Purchase of Deposits and Other Claims of Former “Incubator Bank of Japan.”

If the DICJ receives tenders from LCIBJ on behalf of the depositors, the DICJ will make repayments to the depositors (“repayment”) (Note 2).

(Note 2) Regarding the first repayments (39% repayment rate), the DICJ received tenders on behalf of the depositors on April 2, and made repayments to the depositors.

Since September 30, 2014, LCIBJ has been making the interim repayments based on its rehabilitation plan (19% repayment rate). Accordingly, the DICJ received the interim repayments on behalf of the depositors on September 30, 2014, and is going to make the second repayments to the depositors.

2. Schedule

The DICJ will mail immediately to the qualified depositors for repayments the necessary documents for following procedure of requesting repayments.
Upon receipt from the qualified depositors by mail of the necessary documents, including the application form for requesting the repayments, the DICJ will remit the amount of the repayments to the designated bank accounts as soon as possible (the bank remittance fee will be borne by the DICJ).
In the cases where LCIBJ will make payments of additional tenders in the future, the DICJ will make separate announcements about them.

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