Minutes of the 245th Policy Board Meeting of the DICJ

Date of resolution: October 1, 2014 (Wednesday), on a round-robin basis

Resolution

Decision on the second final settlement payment amount concerning the purchase of deposits and other claims of former “Incubator Bank of Japan” as per the Attached Document

  • Regarding this matter, it was explained to the Policy Board members through visits to them or other means that the final settlement payment amount, etc. concerning the purchase of deposits and other claims of former “Incubator Bank of Japan” would be decided based on Article 72, paragraph (4) of the Deposit Insurance Act.
  • Regarding “Resolution (proposal),” 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.

Attached Document: The second final settlement payment amount, etc. concerning deposits and other claims of former “Incubator Bank of Japan”

Reports

1. The second repayments of tenders to DICJ-represented depositors of former “Incubabor Bank of Japan”

It was reported to the Policy Board members through visits to them or other means that, based on Article 466 of the Act on Special Treatment of Corporate Reorganization Proceedings and Other Insolvency Proceedings of Financial Institutions, the DICJ would make the second repayments of tenders to DICJ-represented Depositors of former “Incubator Bank of Japan” which the DICJ received on behalf of such depositors (19% repayment rate).

2. Implementation of additional financial assistance concerning return of profit from recovery of purchased assets

It was reported to the Policy Board members through visits to them or other means that the DICJ would implement financial assistance of about ¥51.8 billion to the “Liquidated Company of the Incubator Bank of Japan” late October, 2014 within the already resolved upper limit of additional equitable financial assistance concerning return of profit from recovery of purchased assets by the Resolution and Collection Corporation.

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