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Bank Run Should Have Limited Impact On Taiwan Banking System Jan 07
Standard & Poors, Jan 2007
Abstract
HONG KONG (Standard & Poor's) Jan. 10, 2007--Standard & Poor's Ratings Services said today that, because of effective government action, the recent small deposit run on the Chinese Bank (Chinese Bank) is not expected to have a significant impact on system confidence or stability in Taiwan. Chinese Bank is part of the Rebar Asia Pacific Group (the Rebar group). As a result of the group's financial troubles, Great Chinese Bills Finance Corp. (Great Chinese BFC), an affiliate that mainly deals with domestic institutional creditors, failed to honor payment obligations due on Jan. 5, 2007. Panic among depositors was triggered by an announcement on Jan. 4, 2007 that two other Rebar group affiliates--China Rebar Co. and Chia-Hsin Food and Synthetic Fiber...
Companies mentioned in this report are: Chinese Bank (The),Mega International Commercial Bank Co. Ltd.
Action: General Comment
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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