The Finance Ministry’s Banking Bureau urged its inspection division to “listen to what Nippon Credit Bank has to say” while carrying out an emergency inspection of the ailing bank in April 1997, informed sources said Monday.

At the time, NCB and the inspectors had differing opinions over how many of the bank’s loans to its affiliates could be recovered. To solve the impasse, banking bureau officials urged the bank to press its case while calling on inspectors to listen to NCB.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.