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Shinsei Bank To Sell Hq For Y118bn To Offset Subprime Losses

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TOKYO (Nikkei)--Shinsei Bank (8303) said Thursday it will sell its head office building here to a real estate investment fund affiliated with major U.S. brokerage Morgan Stanley for 118 billion yen.

Takinogawa Shinkin Bank

TOKYO (Nikkei)--The central financial institution for credit associations plans to inject more than 20 billion yen into Takinogawa Shinkin Bank in light of losses stemming from the subprime turmoil, The Nikkei learned Thursday.

Edited by crash2006

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TOKYO (Nikkei)--Shinsei Bank (8303) said Thursday it will sell its head office building here to a real estate investment fund affiliated with major U.S. brokerage Morgan Stanley for 118 billion yen.

Takinogawa Shinkin Bank

TOKYO (Nikkei)--The central financial institution for credit associations plans to inject more than 20 billion yen into Takinogawa Shinkin Bank in light of losses stemming from the subprime turmoil, The Nikkei learned Thursday.

Wonder what the rebate will be?

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TOKYO (Nikkei)--Shinsei Bank (8303) said Thursday it will sell its head office building here to a real estate investment fund affiliated with major U.S. brokerage Morgan Stanley for 118 billion yen.

I spotted the bit about Shinsei Bank yesterday. An interesting footnote was that it was to partly pay for the $2bn it still owes the Japanese government for their speculative excesses until 1990.

I really didn't know they still carried a debt hangover from those days. It shows how long it takes to sort things out (18 years and still not over in Japan) when governments don't allow banks to fail. A pointer to what may happen to us for the next two decades perhaps?

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  • 297 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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