Subscription for Preferred Investment Issued by Shinkumi Federation Bank

Press Release

Date: December 22, 2017

  1. On November 22, the Financial Services Agency decided on the subscription for preferred investment issued by Shinkumi Federation Bank based on Article 34-4 of the Act on Special Measures for Strengthening Financial Functions (hereinafter referred to as the "Financial Functions Strengthening Act"). Following the decision, the Resolution and Collection Corporation subscribed today for preferred investment issued by Shinkumi Federation Bank. The outline of the preferred shares for which the subscription was implemented is as described below.
  2. The government's capital participation through the subscription for the preferred investment is intended to enable credit cooperatives under the umbrella of Shinkumi Federation Bank to more actively exercise their financial intermediary function in their regions. The Deposit Insurance Corporation (DICJ) believes that conducting operations related to capital participation based on the Financial Functions Strengthening Act is one of its important duties.
  3. The DICJ will continue to smoothly and steadily conduct operations related to capital participation based on the Financial Functions Strengthening Act in close cooperation with relevant authorities.
Outline of the preferred investment
Type Corporate bond-type non-cumulative perpetual preferred investment
Issue price 200,000 yen per lot
Total issue amount 10,000 million yen
Number of issued lots 50,000 lots

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