Payment Protection Insurance FSA Questions
October 4th, 2011
In 1998 the financial crisis had worsened and this prompted further moves from the government. The government deemed it necessary to create a new agency, the Financial Supervisory Agency (FSA), to take over the supervision of the banks from the MoF. The Financial Revitalisation Law and the Financial Early Strengthening Law were also passed in 1998. These new laws meant the FSA could take corrective action earlier by putting in place special public management or even putting the bank under temporary nationalisation. Payment Protection Insurance FSA The same round of reforms saw the Resolution and Collection Bank merged with the Housing Loan Administration Corporation (the institution set up to handle the jusen crisis) to create the Resolution and Collection Corporation. This new branch of the FSA had it role broadened now allowing it to purchase the bad loans from not only banks in administration but also from solvent banks.
Entry Filed under: Finance