INSTITUTION
PERIOD
BACKGROUND,RESPONSEMEASURESAND
RESULTS
17 BowaCommercial
Bank
2007.08.10~2012.07.09
Conservatorship
2012.07.10~Present
Receivership
2014.11.20
Cancellationof operating
license
•
The bank had large unamortized losses due
to poor asset quality and several NPL sales,
resulting in a negative net worth. The FSC
therefore designated the CDIC to carry out on-
site conservatorship.
•
The bank was general ly assumed by
Development Bank of Singapore on May 24,
2008.
•
The FSC instructed that conservatorship be
terminated frommidnight on July10, 2012, and
that the receivership be simultaneously started.
The FSC revoked the bank’s operating license
onNovember 20, 2014, following receivership.
18 AsiaTrust and
InvestmentCorp.
2008.01.31~2013.09.05
Conservatorship
2013.09.06
Dissolutionand
liquidation
•
The company was unable to fund a capital
increase and restructuring and showed a
negative net book worth through December
2007. The FSC therefore designated the CDIC
to carryout on-site conservatorship.
•
The company was generally assumed by
Standard Chartered Bank on December 27,
2008.
•
The FSC instructed that conservatorship be
terminated frommidnight on September 6,
2013, and that the dissolution and liquidation
be simultaneously started, with the Cosmos
Bankas liquidator.
19 ChinfonCommercial
Bank
2008.09.26~Present
Conservatorship
•
The bank showed a negative net work on
its books due to deteriorating financial and
business conditions.After the failureof a capital
increase self-helpplan, the FSCdesignated the
CDIC to carryout on-site conservatorship.
•
The Good Bank domestic branches Lots A
(18 branches) and B (19 branches), credit
card business, and Vietnam branches were
acquiredby auction, respectively, by theYuanta
Commercial Bank, the Far Eastern International
Bank, the Taishin International Bank and the
Taipei Fubon Commercial Bank. The general
assignment of theVietnambranches and credit
cardbusinesswas completedonMarch6, 2010,
while the general assignment of the domestic
branch lots A and Bwas completed onApril 3,
2010.
82
Central Deposit Insurance Corporation 30Years inRetrospect
