Chronologyof Superintendence,ConservatorshipandReceivership
Operations
INSTITUTION
PERIOD
BACKGROUND,RESPONSEMEASURESAND
RESULTS
1 SecondCredit
Cooperativeof
HsinchuCity
1996.09.07~1997.01.06
Superintendence
•
Non-performing loan ratio far exceeded
averages of the whole Credit Cooperatives,
financial situation deteriorating significantly.
Moreover, all directors and supervisors, except
two, refused to increase shares subscription as
required. TheMinistry of Finance deemed that
it failed to operate normally and appointed the
CDIC to stationon-site superintendence.
•
Assumed by the Macoto Bank on January 5,
1997
2 FifthCredit
Cooperativeof
KaohsiungCity
1997.06.12~1997.09.30
Superintendence
•
According to the media, its net worth had
turned negative attracting concern from the
Ministry of Finance. Abnormal withdrawals by
depositors were triggered on June 11, 1997.
TheMinistry of Finance appointed the CDIC to
stationon-site superintendence.
•
Assumed by the Pan Qiao Credit Cooperative
(restructured and renamedBank of Panhsin) on
September 30, 1997
3 TenthCredit
Cooperativeof
KaohsiungCity
1997.06.12~1997.10.15
Superintendence
•
According to the media, its net worth had
turned negative attracting concern from the
Ministry of Finance. Abnormal withdrawals by
depositors were triggered on June 11, 1997.
TheMinistry of Finance appointed the CDIC to
stationon-site superintendence.
•
Signed Purchase andAssumption contract with
the Pan Asia Bank (restructured and renamed
theBowaBank) onAugust 23, 1997
4 Taichung
Commercial Bank
1998.11.25~1999.05.24
Superintendence
•
Its Chairman, Zeng Zheng-ren, forced the deal
of making illegal big loans extended by its
Taipei branch to its affiliated businesses. Large-
scale bank run was triggered resulting from
illegal transactions of the shares of its listed
company. The Ministry of Finance appointed
the CDIC to station on-site superintendence
after determining that itsboardof directors had
seriousproblemsofmal-function.
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