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Loan Modification

: Mortgage Lender Implode-o-Meter

Bank run fears engulf savings bank industry

By Implode-Explode Heavy Industries

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``More than a thousand customers lined up in front of the Busan II Savings Bank located in Busan yesterday as soon as the nation?s financial regulator announced a six-month business suspension of Busan Savings Bank and its affiliate Daejeon Mutual Savings Bank... The FSC yesterday placed on a watch list five savings banks whose capital adequacy ratio fell below 5 percent, including Bohae Bank, Domin Bank, Woolee Savings Bank, Saenuri Savings Bank and Yes Savings Bank. Financial authorities expressed confidence that these five banks would not be suspended since they were undergoing management restructuring.''

Full post as published by Mortgage Lender Implode-o-Meter on February 18, 2011 (boomark / email).

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