Tokyo, Minato, Mitsui Club
The car of Miyashita Kitan slowly parked in the club's underground parking lot. Liang Jiaxun was the first to jump out of the car, opened the door behind, reached out to block the door, and waited for Miyashita Kitan to get out of the car.
The cold spring came in Tokyo these two days, and the temperature suddenly dropped by three or four degrees, and it actually felt like a cold winter.
After returning from Washington, perhaps because of fatigue, Kita Kitani of Miyashita got a cold and only improved a little yesterday. Therefore, when he went out today, he was wearing a thicker dress. He was wearing a woolen coat on his body, a baseball cap on his head, and a scarf wrapped around his neck was also wrapped tightly, without any wind.
When he got out of the car, the bodyguards accompanied him surrounded him and walked towards the elevator. His destination was the top floor of the club. Today, in this place, the seven major shareholders of Changxin Bank held a meeting to discuss the issue of Changxin Bank's capital adequacy ratio.
In the few days when Miyashita Kitan went to Washington, affected by the rectification of the Bank for International Settlements, eight Japanese financial institutions, including Changxin Bank, experienced a plummeting share price. Among them, Changxin Bank's shares fell from a price of more than 600 yen per share to 574 yen per share.
If Changxin's own assets do not have problems, such declines will not have much impact on the bank's operations. But the problem is that Changxin is now in a turmoil, and the plunge in stock prices directly affects Changxin's own capital adequacy rate.
In Japan, the asset structure of financial institutions complies with the provisions of the Basel Agreement, and according to the corresponding regulations, the proportion of bank's own capital to total capital shall not be less than 8% of the total capital.
Due to the deterioration of operating conditions and the plunge of stock prices, the bank's off-book income has sharply decreased, and the ratio of own assets to total assets has reached an 8% limit. If the bank does not take effective measures to curb this situation, then the Bank of International Settlements, which is staring at it, will probably immediately adjust its credit rating for Changxin
For the current Changxin Bank, there are only three feasible ways to increase capital adequacy ratio: First, replenish funds through bonds issued by banks; Second, speed up the recovery of loans, collect the released funds and fill the funds gap; Third, create good news and raise the bank's stock price
Among these three plans, the first one is obviously not feasible. Not to mention that the current bank's operating conditions are not good, even if the operating conditions are good, it is impossible to issue enough bonds in the short term
As for the second plan, it is not impossible, but once this plan is adopted, Changxin Bank will suffer a devastating blow in the long run.
Why?
It's very simple. The current dilemma facing Changxin is that the bad debt rights are high and a large number of loans cannot be recovered.
In this situation, those who can repay the loan are obviously those high-quality customers, which are the foundation for the survival of the bank.
If Changyin chooses to recover the loan in large quantities at this time, then the customers who cannot repay the loan will still not return it, and high-quality customers who can repay the loan will definitely not choose to cooperate with Changyin. The final result is that Changyin's survival foundation will be lost. Even if they survive in a short period of time, it will be meaningless.
So, from a realistic perspective, there is actually only one solution that Changyin can choose at present, and this only one solution is not so easy to implement.
Following the elevator to the top floor. When I came out of the elevator, I saw people standing in the carpeted corridor. They were all wearing suits, and there were four or five of them. Foreigners, probably either secretary or bodyguard.
Seeing Miyashigaki walk out of the elevator, these people leaned against the walls on both sides of the corridor, gave out the passage of the corridor, and bowed to the salute.
The prepared conference room is on the far left side of the corridor. There is a not very spacious hall. An oval conference table is placed in the center. When Miyagiki walked into the conference room, the conference table was basically full. Name tags indicate the identity of the participants and the shareholders they represented.
Judging from the equity structure of Changxin Bank, Miyashita Kita is not the major shareholder. The Changyin shares he inherited from the old man Akamoto are less than three percent of the total shares
So who is the largest shareholder of Changxin Bank?
The answer is the Japanese government, because at the beginning of Changyin's establishment, the Japanese government invested a lot of funds into Changyin by subscribing to preferred shares. Fifty percent of Changyin's own funds were invested by the Japanese government.
In addition, the Ministry of Finance Operations of the Datura Province also purchased a large number of Changyin bonds. In proportion, forty percent of the bonds issued by Changyin are controlled by the Ministry of Finance Operations of the Datura Province.
Therefore, once Changyin goes bankrupt, the Japanese government will suffer the most damage.
But this is how bizarre things happened. The Japanese government and the Otoma Province are the two largest shareholders of Changyin, but there were no representatives from these two shareholders in the previous board meetings of Changyin. Just like at this meeting today, there were no representatives from these two shareholders participating. This is the relationship between the financial industry and the government under the capitalist system. It is amazing.
In addition to these two major shareholders, the third place in the shareholding ratio is Japan Agricultural and Forestry Treasury, which is a special legal entity institution that holds more than 10% of Changyin's equity
There are also people from foreign financial institutions attending today's shareholder meeting, such as representatives from Morgan Stanley, who hold 3.9 million shares of Changyin, and their shareholding ratio is similar to that of the Kita Kinabalu, and less than three percent.
There are representatives from Goldman Sax, who hold 2.7 million shares of Changyin, with a shareholding ratio of less than 2%.
The remaining shareholders, representatives from Tokyo Mutual Bank, representatives from Nippon Credit Bank, etc.
Tokyo Mutual Bank is a bank established not long ago. It was initiated by the central bank and jointly invested by several private financial institutions. The total capital is only 40 billion yen. The purpose of this bank is to establish the two financial institutions, Tokyo Union and Security Credit.
At present, the assets and liabilities of the latter two financial institutions have been taken over by the joint bank, and these assets also include some equity of Changxin Bank.
The person who chaired today's shareholder meeting was a representative from Tokyo Mutual Bank. The person's name is Taro Nishimoto, 60 years old. He once worked in the province of Tripitaka. He joined the Mutual Bank after retirement last year and is one of the three supervisors of Mutual Bank.
Miyashita Kita found a seat with the famous Akamoto Kita. After taking it, he began to close his eyes and rest. He knew that there was no way to talk about anything at a meeting like today.
Taro Nishimoto represents the position of the mutual bank. To put it bluntly, it is the position of the Bank of Japan. If nothing unexpected happens, the so-called solutions to the current crisis proposed by him are nothing more than: shareholders increase capital, cancel redemption, cut expenses, etc.
Under the current situation, no shareholder can continue to increase capital to Changyin. What everyone hopes to see is the Japanese government, Datoma Province, purchases a bond from Changxin Bank to help Changxin through this crisis, rather than paying money from its own pocket
According to statistics provided by the Financial Bureau of the Tripitaka Province, Changxin Bank's loan balance accounts for more than 4% of the total loans of Japanese private financial institutions. Once Changyin goes bankrupt, Japan's GDP will drop by one percent and the lost jobs will exceed 700,000. At the same time, it will cause turmoil in the financial industry across Japan, causing the continued sluggishness of the lending market, and thus causing an incalculable blow to the national economy.
It is precisely because of such serious consequences that many shareholders of Changyin have always been stable because they believe that the Japanese government cannot sit idly by and watch Changyin go bankrupt, and it will be a matter of time before public funds can be used to save Changyin.
But as a time traveler, Kita Miyashita knew very well what the future of Nagain was. In his previous life, this Japanese transnational bank did go bankrupt. What it brought was the avalanche of a series of Japanese banks and financial institutions.
Of course, the deeper impression it brings is the long-term sluggishness of the Japanese financial industry. Banks hold the money in their hands tightly. For those investment projects, if they don’t see a 100% success rate, they will not borrow a penny.
This change also led to a large number of Japanese companies beginning to transfer to foreign countries, such as China, where loans are very convenient. This situation continued until 2019, when the Japanese government even introduced policies to provide financial subsidies for companies willing to return to Japan from China to Japan.
But this policy was introduced a bit late and is not favored by others
Still the same thing, Kita Miyashita is not interested in saving Changxin Bank, nor is he interested in revitalizing the Japanese economy. What he is considering now is to suck up more blood from Changxin Bank's shrinking body as much as possible. In terms of this understanding, he is probably able to reach an agreement with most of the shareholders present.
The meeting began soon, and Taro Nishimoto, the host of the meeting, began to explain the crisis that Nagagin is currently facing. The venue was very quiet, and the delegates at the meeting were all in a state of mind and didn't know what they were thinking in their minds.
Taro Nishimoto came up with the plan proposed by the Co-Bank: 30 billion yen will be invested by the Co-Bank, and 30 billion yen will be raised in total to enrich the capital of Changxin Bank and deal with the current crisis.
The so-called joint bank invested 30 billion yuan, which is actually the central bank provided the money, and the remaining money is provided by shareholders such as Miyashita Kita and others.
As expected, the plan proposed by Taro Nishimoto was collectively opposed by the shareholders attending the meeting, and the order of the venue was once in chaos. In the end, no agreement was reached for the entire meeting.
The car of Miyashita Kitan slowly parked in the club's underground parking lot. Liang Jiaxun was the first to jump out of the car, opened the door behind, reached out to block the door, and waited for Miyashita Kitan to get out of the car.
The cold spring came in Tokyo these two days, and the temperature suddenly dropped by three or four degrees, and it actually felt like a cold winter.
After returning from Washington, perhaps because of fatigue, Kita Kitani of Miyashita got a cold and only improved a little yesterday. Therefore, when he went out today, he was wearing a thicker dress. He was wearing a woolen coat on his body, a baseball cap on his head, and a scarf wrapped around his neck was also wrapped tightly, without any wind.
When he got out of the car, the bodyguards accompanied him surrounded him and walked towards the elevator. His destination was the top floor of the club. Today, in this place, the seven major shareholders of Changxin Bank held a meeting to discuss the issue of Changxin Bank's capital adequacy ratio.
In the few days when Miyashita Kitan went to Washington, affected by the rectification of the Bank for International Settlements, eight Japanese financial institutions, including Changxin Bank, experienced a plummeting share price. Among them, Changxin Bank's shares fell from a price of more than 600 yen per share to 574 yen per share.
If Changxin's own assets do not have problems, such declines will not have much impact on the bank's operations. But the problem is that Changxin is now in a turmoil, and the plunge in stock prices directly affects Changxin's own capital adequacy rate.
In Japan, the asset structure of financial institutions complies with the provisions of the Basel Agreement, and according to the corresponding regulations, the proportion of bank's own capital to total capital shall not be less than 8% of the total capital.
Due to the deterioration of operating conditions and the plunge of stock prices, the bank's off-book income has sharply decreased, and the ratio of own assets to total assets has reached an 8% limit. If the bank does not take effective measures to curb this situation, then the Bank of International Settlements, which is staring at it, will probably immediately adjust its credit rating for Changxin
For the current Changxin Bank, there are only three feasible ways to increase capital adequacy ratio: First, replenish funds through bonds issued by banks; Second, speed up the recovery of loans, collect the released funds and fill the funds gap; Third, create good news and raise the bank's stock price
Among these three plans, the first one is obviously not feasible. Not to mention that the current bank's operating conditions are not good, even if the operating conditions are good, it is impossible to issue enough bonds in the short term
As for the second plan, it is not impossible, but once this plan is adopted, Changxin Bank will suffer a devastating blow in the long run.
Why?
It's very simple. The current dilemma facing Changxin is that the bad debt rights are high and a large number of loans cannot be recovered.
In this situation, those who can repay the loan are obviously those high-quality customers, which are the foundation for the survival of the bank.
If Changyin chooses to recover the loan in large quantities at this time, then the customers who cannot repay the loan will still not return it, and high-quality customers who can repay the loan will definitely not choose to cooperate with Changyin. The final result is that Changyin's survival foundation will be lost. Even if they survive in a short period of time, it will be meaningless.
So, from a realistic perspective, there is actually only one solution that Changyin can choose at present, and this only one solution is not so easy to implement.
Following the elevator to the top floor. When I came out of the elevator, I saw people standing in the carpeted corridor. They were all wearing suits, and there were four or five of them. Foreigners, probably either secretary or bodyguard.
Seeing Miyashigaki walk out of the elevator, these people leaned against the walls on both sides of the corridor, gave out the passage of the corridor, and bowed to the salute.
The prepared conference room is on the far left side of the corridor. There is a not very spacious hall. An oval conference table is placed in the center. When Miyagiki walked into the conference room, the conference table was basically full. Name tags indicate the identity of the participants and the shareholders they represented.
Judging from the equity structure of Changxin Bank, Miyashita Kita is not the major shareholder. The Changyin shares he inherited from the old man Akamoto are less than three percent of the total shares
So who is the largest shareholder of Changxin Bank?
The answer is the Japanese government, because at the beginning of Changyin's establishment, the Japanese government invested a lot of funds into Changyin by subscribing to preferred shares. Fifty percent of Changyin's own funds were invested by the Japanese government.
In addition, the Ministry of Finance Operations of the Datura Province also purchased a large number of Changyin bonds. In proportion, forty percent of the bonds issued by Changyin are controlled by the Ministry of Finance Operations of the Datura Province.
Therefore, once Changyin goes bankrupt, the Japanese government will suffer the most damage.
But this is how bizarre things happened. The Japanese government and the Otoma Province are the two largest shareholders of Changyin, but there were no representatives from these two shareholders in the previous board meetings of Changyin. Just like at this meeting today, there were no representatives from these two shareholders participating. This is the relationship between the financial industry and the government under the capitalist system. It is amazing.
In addition to these two major shareholders, the third place in the shareholding ratio is Japan Agricultural and Forestry Treasury, which is a special legal entity institution that holds more than 10% of Changyin's equity
There are also people from foreign financial institutions attending today's shareholder meeting, such as representatives from Morgan Stanley, who hold 3.9 million shares of Changyin, and their shareholding ratio is similar to that of the Kita Kinabalu, and less than three percent.
There are representatives from Goldman Sax, who hold 2.7 million shares of Changyin, with a shareholding ratio of less than 2%.
The remaining shareholders, representatives from Tokyo Mutual Bank, representatives from Nippon Credit Bank, etc.
Tokyo Mutual Bank is a bank established not long ago. It was initiated by the central bank and jointly invested by several private financial institutions. The total capital is only 40 billion yen. The purpose of this bank is to establish the two financial institutions, Tokyo Union and Security Credit.
At present, the assets and liabilities of the latter two financial institutions have been taken over by the joint bank, and these assets also include some equity of Changxin Bank.
The person who chaired today's shareholder meeting was a representative from Tokyo Mutual Bank. The person's name is Taro Nishimoto, 60 years old. He once worked in the province of Tripitaka. He joined the Mutual Bank after retirement last year and is one of the three supervisors of Mutual Bank.
Miyashita Kita found a seat with the famous Akamoto Kita. After taking it, he began to close his eyes and rest. He knew that there was no way to talk about anything at a meeting like today.
Taro Nishimoto represents the position of the mutual bank. To put it bluntly, it is the position of the Bank of Japan. If nothing unexpected happens, the so-called solutions to the current crisis proposed by him are nothing more than: shareholders increase capital, cancel redemption, cut expenses, etc.
Under the current situation, no shareholder can continue to increase capital to Changyin. What everyone hopes to see is the Japanese government, Datoma Province, purchases a bond from Changxin Bank to help Changxin through this crisis, rather than paying money from its own pocket
According to statistics provided by the Financial Bureau of the Tripitaka Province, Changxin Bank's loan balance accounts for more than 4% of the total loans of Japanese private financial institutions. Once Changyin goes bankrupt, Japan's GDP will drop by one percent and the lost jobs will exceed 700,000. At the same time, it will cause turmoil in the financial industry across Japan, causing the continued sluggishness of the lending market, and thus causing an incalculable blow to the national economy.
It is precisely because of such serious consequences that many shareholders of Changyin have always been stable because they believe that the Japanese government cannot sit idly by and watch Changyin go bankrupt, and it will be a matter of time before public funds can be used to save Changyin.
But as a time traveler, Kita Miyashita knew very well what the future of Nagain was. In his previous life, this Japanese transnational bank did go bankrupt. What it brought was the avalanche of a series of Japanese banks and financial institutions.
Of course, the deeper impression it brings is the long-term sluggishness of the Japanese financial industry. Banks hold the money in their hands tightly. For those investment projects, if they don’t see a 100% success rate, they will not borrow a penny.
This change also led to a large number of Japanese companies beginning to transfer to foreign countries, such as China, where loans are very convenient. This situation continued until 2019, when the Japanese government even introduced policies to provide financial subsidies for companies willing to return to Japan from China to Japan.
But this policy was introduced a bit late and is not favored by others
Still the same thing, Kita Miyashita is not interested in saving Changxin Bank, nor is he interested in revitalizing the Japanese economy. What he is considering now is to suck up more blood from Changxin Bank's shrinking body as much as possible. In terms of this understanding, he is probably able to reach an agreement with most of the shareholders present.
The meeting began soon, and Taro Nishimoto, the host of the meeting, began to explain the crisis that Nagagin is currently facing. The venue was very quiet, and the delegates at the meeting were all in a state of mind and didn't know what they were thinking in their minds.
Taro Nishimoto came up with the plan proposed by the Co-Bank: 30 billion yen will be invested by the Co-Bank, and 30 billion yen will be raised in total to enrich the capital of Changxin Bank and deal with the current crisis.
The so-called joint bank invested 30 billion yuan, which is actually the central bank provided the money, and the remaining money is provided by shareholders such as Miyashita Kita and others.
As expected, the plan proposed by Taro Nishimoto was collectively opposed by the shareholders attending the meeting, and the order of the venue was once in chaos. In the end, no agreement was reached for the entire meeting.
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