Minutes of the 246th Policy Board Meeting of the DICJ

Date of resolution: October 28, 2014 (Tuesday), on a round-robin basis

Resolutions

1. Decision on the purchase of specified difficult recovery claims from financial institutions

  • This resolution concerns the system under which the DICJ purchases specified difficult recovery claims held by financial institutions. The DICJ will purchase assets for which financial institutions have recently applied for purchase by the DICJ.
    Regarding this matter, it was explained to the Policy Board members through visits to them or other means that the Committee for Screening Purchase of Specified Difficult Recovery Claims, a third-party organization, conducted deliberations as to whether the purchase of the relevant specified difficult recovery claims was appropriate as well as their prices and expressed to the DICJ Governor its opinion to the effect that it was appropriate.
  • Regarding “Resolution (proposal) 1,” deliberations were conducted after questions and opinions were solicited from the Policy Board members on a round-robin basis, and this was resolved as proposed.

2. The terms of the entrustment of the purchase of specified difficult recovery claims to the Resolution and Collection Corporation

  • This resolution determines the terms of the entrustment of the purchase of specified difficult recovery claims to the Resolution and Collection Corporation explained in 1. above. Regarding this matter, it was explained to the Policy Board members through visits to them or other means that, according to the resolution, the purchase price would be that presented by the DICJ and any profit that might arise in relation to the purchased asset would be paid to the DICJ, and that the DICJ would compensate for any loss that might arise.
  • Regarding “Resolution (proposal) 2,” deliberations were conducted after questions and opinions were solicited from the Policy Board members on a round-robin basis, and this was resolved as proposed.

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