One by one, all of the nation's city banks except for the Bank of Tokyo-Mitsubishi announced by Friday that they will ask for public money under the provisions of the newly adopted bank recapitalization law.
Instead of taking public funds, the Bank of Tokyo-Mitsubishi will seek to reinforce its capital base by about 400 billion yen through private financing, officials at the bank said.
According to the capital-buildup plans released by the other banks, the amount of money they will ask for from the government ranges between 300 billion yen and 700 billion yen per bank, totaling about 4.1 trillion yen at maximum.