Resona Holdings, Inc. (りそなホールディングス) is the fourth-largest banking group in Japan.
The company was originally established on December 12, 2001 as Daiwa Bank Holdings, Inc., the result of the consolidation of Daiwa Bank, Kinki Osaka Bank, and Nara Bank. After acquring Asahi Bank on March 1, 2002, the group was renamed Resona Holdings, Inc. on October 1, 2002. Resona Holdings, Inc. ... 2002(MMII) is a common year starting on Tuesday of the Gregorian calendar. ...
The group's head office is located in Osaka, Japan. Osaka Castle (ÅŒsaka-jÅ) Location in Japan Osaka Aquarium (Kaiyukan) Osaka railway station The Osaka Tower (TsÅ«tenkaku) Azumanga Daioh. ...
In early 2003 the Resona Group's capital adequacy ratio had fallen dangerously low. The Resona case would have had an impact on other major banks, which were also factoring in large amounts of deferred tax assets. On May 17, 2003, the Japan government decided to inject public funds into the Resona Group. The move was designed to help the struggling bank, and showed the new problems facing the economy of Japan. 2003(MMIII) is a common year starting on Wednesday of the Gregorian calendar. ...
Banking authorities were accused of fuzzing the extent of the crisis faced by the banking system.
Banks and their regulators have staved off the immediate threat of a massive crisis of financial confidence that was feared as Japanese financial institutions approached the March 31 end of the current fiscal year.
Daiwa Trust's $97 million in trading losses, at least some of which were the result of unauthorized trading by Daiwa Trust employees, were absorbed by Daiwa in connection with its transactions to conceal the losses.
Daiwa Trust is presently well capitalized, and all present indications are that the value of its assets are more than sufficient to satisfy all its liabilities, including its liabilities to depositors.
As of that date, these foreign banking organizations had total assets of about $1.1 trillion, of which 72.0 percent were in 689 uninsured foreign banking organizations supervised by the Federal Reserve, the applicable state licensing authorities, and, to a lesser extent, the OCC and the OTS.
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