TOKYO (Nikkei) - The Deposit Insurance Corp. of Japan, or DICJ, said Monday that 796 non-Incubator clients of the Bank of Japan had requested the return of their deposits, totaling ¥ 5,030,000,000, at 5 later that day.
That translates to about 0.6% of the bank's depositors 126 779 from Friday. Approximately 1984 customers, or about 1.5% of total visited bank branches Incubator Monday.
The bank, which was declared bankrupt on Friday, opened only 16 branches Monday. But plans to resume full operations within a few weeks.
"The depositors were calm, and resumed operations smoothly without any confusion," Masanori Tanabe, acting governor of DICJ, told a news conference Monday.
According to the DICJ, the outstanding amount of deposits in the Bank Incubator came to 582 billion yen. About 571 billion yen of deposits will be refunded in full under the deposit insurance system.
Because the system only protects up to 10 million yen per depositor, about 11 billion yen, or 1.9% of the total, will not be returned. The bank will meet on Thursday and Friday in Tokyo for customers who have placed more than 10 million yen.
Incubator of the World Bank on Monday night received approval from the Tokyo District Court to begin the reconstruction of operating procedures. The schedule calls for restructuring of the bank to transfer its operations to a financial institution in the acquisition of about eight months and submit its business rehabilitation plan on 27 July next year.
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