The Daiwa Bank Problems: Background and Policy Issues

Description

On November 2, 1995, U.S. banking authorities ordered the Daiwa Bank to close its banking operations in the United States, and a 24-count criminal indictment was issued against it. These actions stem from the bank's admission that Toshihide Iguchi, a rogue trader at its New York branch office, had incurred $1.1 billion in losses over eleven years from trading U.S. Treasury securities and that Daiwa managers had "directed that those losses be concealed" from U.S. regulators.

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Nanto, Dick K.; Jackson, William D. & Wells, F. Jean November 30, 1995.

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This report is part of the collection entitled: Congressional Research Service Reports and was provided by UNT Libraries Government Documents Department to Digital Library, a digital repository hosted by the UNT Libraries. It has been viewed 336 times . More information about this report can be viewed below.

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Description

On November 2, 1995, U.S. banking authorities ordered the
Daiwa Bank to close its banking operations in the United States,
and a 24-count criminal indictment was issued against it. These
actions stem from the bank's admission that Toshihide Iguchi, a
rogue trader at its New York branch office, had incurred $1.1
billion in losses over eleven years from trading U.S. Treasury
securities and that Daiwa managers had "directed that those
losses be concealed" from U.S. regulators.

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Congressional Research Service Reports

The Congressional Research Service (CRS) is the public policy research arm of Congress. This legislative branch agency works exclusively for Members of Congress, their committees and their staff. This collection includes CRS reports from the mid-1970's through the present--covering a variety of topics from agriculture to foreign policy to welfare.

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Creation Date

  • November 30, 1995

Added to The UNT Digital Library

  • June 11, 2005, 11:10 a.m.

Description Last Updated

  • Feb. 13, 2017, 7:34 p.m.

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Citations, Rights, Re-Use

Nanto, Dick K.; Jackson, William D. & Wells, F. Jean. The Daiwa Bank Problems: Background and Policy Issues, report, November 30, 1995; Washington D.C.. (digital.library.unt.edu/ark:/67531/metacrs202/: accessed March 29, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.