Japanese investors are not thrown in trouble The authorities have paid back the bank customers of a bankrupt

A small Japanese bank Incubator Bank, who announced last Friday about the bankruptcy, will not remain with their problems alone. To help its depositors national financial regulator for the first time in forty years, has decided to use a system of state guarantees. As a result, almost everyone who has trusted the bank will be able to recover their money.

The collapse of the Incubator Bank - the first bankruptcy in the Japanese banking sector over the past seven years and the first of which was used for the safeguards system, established in 1971. Under this system, each depositor is guaranteed a return of 10 million yen (94 thousand euros) and interest on the deposit. In the 90 years during the financial crisis the government was forced to extend their commitments for the full amount of deposits of citizens, but then in 2002 it was decided to once again limit the amount of compensation on short-term deposits. An exception was made only once. In 2003, bankruptcy Resona Bank and Ashikaga Bank to prevent the collapse of the financial system, both financial institutions were nationalized and their investors got back all their money.

On deposits bankrupt due to financial machinations of top management Incubator Bank at the end of June was 610 million yen (5.7 million euros). In this case, as reported by executives Incubator Bank, only 3500 investors (or less than 3% of the total) were deployed on the bank accounts more than 10 million yen.

According to the financial regulator, the depositors Incubator Bank state guarantees will be provided primarily because the Bank's work differed from the work of other Japanese financial institutions. In bankruptcy was not out on the interbank market, it functioned in isolation.

According to Japanese media, Japan's financial regulator has repeatedly accused the Incubator Bank that he entices customers immoral ways. Thus, the bank offered the investors a much higher percentage than its competitors, assuring that in case of bankruptcy of the state will not abandon them. With this amount of deposits grew by leaps and bounds. Thus, by March this year the volume of deposits increased by 40% compared to the same month last year.

Last year, the regulator began an investigation of leadership Incubator Bank. In July, former chairman of the bank Takeshi Kimura, and three other top managers were arrested on suspicion of obstructing an audit. In particular, they suspected that at the end of last year - the beginning of the current deleted hundreds of emails to be sent for verification. Mr. Kimura has left his post in May, when they were made public the bank's net loss for the past fiscal year on March 31 in the amount of 5.1 billion yen (48 million euros).

The authorities, meanwhile, insist that the wave of bankruptcies in the country will be no investors other Japanese banks, yet do not worry. As the head of the Central Bank of Japan Masaaki Shirakawa, bankruptcy Incubator Bank does not threaten the stability of the Japanese financial system.

«Incubator Bank - a special case: a small bank. So bankruptcy is not an issue for the financial system, it is only a problem bank customers ", - told RBC daily IHS Global Insight analyst Dan Ryan.

Japan will stimulate the economy

Prime Minister of Japan, Naoto Kan on Friday unveiled details of the plan for infusion into the economy of the country's 920 billion yen (11 billion dollars). These funds are needed to stimulate the growth of GDP due to the slowdown of the global environment and the appreciation of the yen against the dollar by 10% since the beginning of this year. In the second quarter of Japan's GDP was 1.295 trillion dollars, which is 3% less than China's GDP over the same period - to $ 1.337 trillion According to the prime minister, will support the infusion of economic activity in the country and help create 200 thousand jobs.