Keep Us Strong WikiLeaks logo

Currently released so far... 97115 / 251,287

Articles

Browse latest releases

Browse by creation date

Browse by origin

A B C D F G H I J K L M N O P Q R S T U V W Y Z

Browse by tag

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
ETRD EAGR ETTC EAID ECON EFIN ECIN EINV ELAB EAIR ENRG EPET EWWT ECPS EIND EMIN ELTN EC ETMIN EUC EZ ET ELECTIONS ENVR EU EUN EG EINT ER ECONOMICS ES EMS ENIV EEB EN ECE ECOSOC EK ENVIRONMENT EFIS EI EWT ENGRD ECPSN EXIM EIAD ERIN ECPC EDEV ENGY ECTRD EPA ESTH ECCT EINVECON ENGR ERTD EUR EAP EWWC ELTD EL EXIMOPIC EXTERNAL ETRDEC ESCAP ECO EGAD ELNT ECONOMIC ENV ETRN EIAR EUMEM ENRGPARMOTRASENVKGHGPGOVECONTSPLEAID EREL ECOM ECONETRDEAGRJA ETCC ETRG ECONOMY EMED ETR ENERG EITC EFINOECD EURM EENG ERA EXPORT ENRD ECONEINVETRDEFINELABETRDKTDBPGOVOPIC EGEN EBRD EVIN ETRAD ECOWAS EFTA ECONETRDBESPAR EGOVSY EPIN EID ECONENRG EDRC ESENV ETT EB ENER ELTNSNAR ECHEVARRIA ETRC EPIT EDUC ESA EFI ENRGY ESCI EE EAIDXMXAXBXFFR EETC ECIP EIAID EIVN EBEXP ESTN EING EGOV ETRA EPETEIND ELAN ETRDGK EAIDRW ETRDEINVECINPGOVCS EPEC ENVI ELN EAG EPCS EPRT EPTED ETRB EUM EAIDS EFIC EFINECONEAIDUNGAGM EAIDAR ESF EIDN ELAM EDU EV EAIDAF ECN EDA EXBS EINTECPS ENRGTRGYETRDBEXPBTIOSZ EPREL EAC EINVEFIN ETA EAGER EINDIR ECA ECLAC ELAP EITI EUCOM ECONEFINETRDPGOVEAGRPTERKTFNKCRMEAID EARG ELDIN EINVKSCA ENNP EFINECONCS EFINTS ECCP ETC EAIRASECCASCID EINN ETRP EAIDNI EFQ ECOQKPKO EGPHUM EBUD ECONEINVEFINPGOVIZ ENERGY ELB EINDETRD EMI ECONEFIN EIB EURN ETRDEINVTINTCS EIN EFIM ETIO ELAINE EMN EATO EWTR EIPR EINVETC ETTD ETDR EIQ ECONCS EPPD ENRGIZ EISL ESPINOSA ELEC EAIG ESLCO EUREM ENTG ERD EINVECONSENVCSJA EEPET EUNCH ECINECONCS ETRO ETRDECONWTOCS ECUN EFND EPECO EAIRECONRP ERGR ETRDPGOV ECPN ENRGMO EPWR EET EAIS EAGRE EDUARDO EAGRRP EAIDPHUMPRELUG EICN ECONQH EVN EGHG ELBR EINF EAIDHO EENV ETEX ERNG ED
KMDR KPAO KPKO KJUS KCRM KGHG KFRD KWMN KDEM KTFN KHIV KGIC KIDE KSCA KNNP KHUM KIPR KSUM KISL KIRF KCOR KRCM KPAL KWBG KN KS KOMC KSEP KFLU KPWR KTIA KSEO KMPI KHLS KICC KSTH KMCA KVPR KPRM KE KU KZ KFLO KSAF KTIP KTEX KBCT KOCI KOLY KOR KAWC KACT KUNR KTDB KSTC KLIG KSKN KNN KCFE KCIP KGHA KHDP KPOW KUNC KDRL KV KPREL KCRS KPOL KRVC KRIM KGIT KWIR KT KIRC KOMO KRFD KUWAIT KG KFIN KSCI KTFIN KFTN KGOV KPRV KSAC KGIV KCRIM KPIR KSOC KBIO KW KGLB KMWN KPO KFSC KSEAO KSTCPL KSI KPRP KREC KFPC KUNH KCSA KMRS KNDP KR KICCPUR KPPAO KCSY KTBT KCIS KNEP KFRDCVISCMGTCASCKOCIASECPHUMSMIGEG KNNB KGCC KINR KPOP KMFO KENV KNAR KVIR KDRG KDMR KFCE KNAO KDEN KGCN KICA KIMMITT KMCC KLFU KMSG KSEC KUM KCUL KMNP KSMT KCOM KOMCSG KSPR KPMI KRAD KIND KCRP KAUST KWAWC KTER KCHG KRDP KPAS KITA KTSC KPAOPREL KWGB KIRP KJUST KMIG KLAB KTFR KSEI KSTT KAPO KSTS KLSO KWNN KPOA KHSA KNPP KPAONZ KBTS KWWW KY KJRE KPAOKMDRKE KCRCM KSCS KWMNCI KESO KWUN KPLS KIIP KEDEM KPAOY KRIF KGICKS KREF KTRD KFRDSOCIRO KTAO KJU KWMNPHUMPRELKPAOZW KEN KO KNEI KEMR KKIV KEAI KWAC KRCIM KWCI KFIU KWIC KCORR KOMS KNNO KPAI KBWG KTTB KTBD KTIALG KILS KFEM KTDM KESS KNUC KPA KOMCCO KCEM KRCS KWBGSY KNPPIS KNNPMNUC KWN KERG KLTN KALM KCCP KSUMPHUM KREL KGH KLIP KTLA KAWK KWMM KVRP KVRC KAID KSLG KDEMK KX KIF KNPR KCFC KFTFN KTFM KPDD KCERS KMOC KDEMAF KMEPI KEMS KDRM KEPREL KBTR KEDU KNP KIRL KNNR KMPT KISLPINR KTPN KA KJUSTH KPIN KDEV KTDD KAKA KFRP KWNM KTSD KINL KJUSKUNR KWWMN KECF KWBC KPRO KVBL KOM KFRDKIRFCVISCMGTKOCIASECPHUMSMIGEG KEDM KFLD KLPM KRGY KNNF KICR KIFR KM KWMNCS KAWS KLAP KPAK KDDG KCGC KID KNSD KMPF KPFO KDP KCMR KRMS KNPT KNNNP KTIAPARM KDTB KNUP KPGOV KNAP KNNC KUK KSRE KREISLER KIVP KQ KTIAEUN KPALAOIS KRM KISLAO KWM KFLOA
PHUM PINR PTER PGOV PREL PREF PL PM PHSA PE PARM PINS PK PUNE PO PALESTINIAN PU PBTS PROP PTBS POL POLI PA PGOVZI POLMIL POLITICAL PARTIES POLM PD POLITICS POLICY PAS PMIL PINT PNAT PV PKO PPOL PERSONS PING PBIO PH PETR PARMS PRES PCON PETERS PRELBR PT PLAB PP PAK PDEM PKPA PSOCI PF PLO PTERM PJUS PSOE PELOSI PROPERTY PGOVPREL PARP PRL PNIR PHUMKPAL PG PREZ PGIC PBOV PAO PKK PROV PHSAK PHUMPREL PROTECTION PGOVBL PSI PRELPK PGOVENRG PUM PRELKPKO PATTY PSOC PRIVATIZATION PRELSP PGOVEAIDUKNOSWGMHUCANLLHFRSPITNZ PMIG PREC PAIGH PROG PSHA PARK PETER POG PHUS PPREL PS PTERPREL PRELPGOV POV PKPO PGOVECON POUS PGOVPRELPHUMPREFSMIGELABEAIDKCRMKWMN PWBG PMAR PREM PAR PNR PRELPGOVEAIDECONEINVBEXPSCULOIIPBTIO PARMIR PGOVGM PHUH PARTM PN PRE PTE PY POLUN PPEL PDOV PGOVSOCI PIRF PGOVPM PBST PRELEVU PGOR PBTSRU PRM PRELKPAOIZ PGVO PERL PGOC PAGR PMIN PHUMR PVIP PPD PGV PRAM PINL PKPAL PTERE PGOF PINO PHAS PODC PRHUM PHUMA PREO PPA PEPFAR PGO PRGOV PAC PRESL PORG PKFK PEPR PRELP PREFA PNG PGOVPHUMKPAO PRELECON PINOCHET PFOR PGOVLO PHUMBA PRELC PREK PHUME PHJM POLINT PGOVPZ PGOVKCRM PGOVE PHALANAGE PARTY PECON PEACE PROCESS PLN PRELSW PAHO PEDRO PRELA PASS PPAO PGPV PNUM PCUL PGGV PSA PGOVSMIGKCRMKWMNPHUMCVISKFRDCA PGIV PRFE POGOV PEL PBT PAMQ PINF PSEPC POSTS PHUMPGOV PVOV PHSAPREL PROLIFERATION PENA PRELTBIOBA PIN PRELL PGOVPTER PHAM PHYTRP PTEL PTERPGOV PHARM PROTESTS PRELAF PKBL PRELKPAO PKNP PARMP PHUML PFOV PERM PUOS PRELGOV PHUMPTER PARAGRAPH PERURENA PBTSEWWT PCI PETROL PINSO PINSCE PQL PEREZ PBS

Browse by classification

Community resources

courage is contagious

Viewing cable 07TAIPEI1989, Taiwan - Another Insolvent Bank Under Receivership

If you are new to these pages, please read an introduction on the structure of a cable as well as how to discuss them with others. See also the FAQs

Understanding cables
Every cable message consists of three parts:
  • The top box shows each cables unique reference number, when and by whom it originally was sent, and what its initial classification was.
  • The middle box contains the header information that is associated with the cable. It includes information about the receiver(s) as well as a general subject.
  • The bottom box presents the body of the cable. The opening can contain a more specific subject, references to other cables (browse by origin to find them) or additional comment. This is followed by the main contents of the cable: a summary, a collection of specific topics and a comment section.
To understand the justification used for the classification of each cable, please use this WikiSource article as reference.

Discussing cables
If you find meaningful or important information in a cable, please link directly to its unique reference number. Linking to a specific paragraph in the body of a cable is also possible by copying the appropriate link (to be found at theparagraph symbol). Please mark messages for social networking services like Twitter with the hash tags #cablegate and a hash containing the reference ID e.g. #07TAIPEI1989.
Reference ID Created Released Classification Origin
07TAIPEI1989 2007-08-29 10:53 2011-08-23 00:00 UNCLASSIFIED American Institute Taiwan, Taipei
VZCZCXRO3008
RR RUEHGH
DE RUEHIN #1989/01 2411053
ZNR UUUUU ZZH
R 291053Z AUG 07
FM AIT TAIPEI
TO RUEHC/SECSTATE WASHDC 6589
RUEATRS/DEPT OF TREASURY WASHDC
INFO RUCPDOC/USDOC WASHDC
RUEHBK/AMEMBASSY BANGKOK 3804
RUEHBJ/AMEMBASSY BEIJING 7186
RUEHUL/AMEMBASSY SEOUL 8859
RUEHGP/AMEMBASSY SINGAPORE 6982
RUEHKO/AMEMBASSY TOKYO 9025
RUEHML/AMEMBASSY MANILA 0133
RUEHJA/AMEMBASSY JAKARTA 4124
RUEHKL/AMEMBASSY KUALA LUMPUR 3804
RUEHHI/AMEMBASSY HANOI 3378
RUEHBY/AMEMBASSY CANBERRA 4584
RUEHWL/AMEMBASSY WELLINGTON 1858
RUEHHK/AMCONSUL HONG KONG 8442
RUEHGH/AMCONSUL SHANGHAI 1317
RUEHGZ/AMCONSUL GUANGZHOU 0502
UNCLAS SECTION 01 OF 02 TAIPEI 001989 
 
SIPDIS 
 
SIPDIS 
 
STATE PLEASE PASS USTR 
STATE FOR EAP/RSP/TC, EAP/EP 
USTR FOR ALTBACH AND STRATFORD 
USDOC FOR 3132/USFCS/OIO/EAP 
TREASURY FOR OASIA/TTYANG 
TREASURY ALSO PASS TO FEDERAL RESERVE/BOARD OF 
GOVERNORS, SAN FRANCISCO FRB/TERESA CURRAN, AND NEW YORK FRB MARI 
BOLIS 
 
E.O. 12958: N/A 
TAGS: EINV EFIN ECON PINR TW
SUBJECT:  Taiwan - Another Insolvent Bank Under Receivership 
 
REF: (A) TAIPEI 1270, (B) TAIPEI 1324 
 
1.  SUMMARY:  Bowa Bank has been put under receivership.  After the 
announcement on August 10, a run on the bank by the depositors 
required the infusion of additional funds, but the run did not 
spread to other problem banks.  The Central Deposit Insurance 
Corporation (CDIC) plans to auction the bank within four to six 
months and plans to dispose of two other banks in receivership in 
October.  Unfortunately the CDIC does not have the money to make 
this happen.  END SUMMARY. 
 
Bowa Bank under Receivership 
---------------------------- 
 
2.  On August 10, the Financial Supervisory Commission (FSC) 
instructed the CDIC to put Bowa Bank under receivership.  The bank's 
net worth stood at minus NT$24.7 billion (US$748 million).  With the 
CDIC workforce already stretched thin managing other banks already 
under receivership, the FSC permitted the CDIC to contract the 
state-owned Land Bank of Taiwan (LBT) to manage and operate Bowa 
Bank. 
 
3.  Bowa Bank is one of seven insolvent Taiwan banks placed under 
surveillance in July 2005.  Including Bowa, five of these seven 
banks have been placed under receivership.  Two have already been 
disposed of and three, including Bowa, are scheduled for disposition 
in the next few months. 
 
Bank Run 
-------- 
 
4.  As with the other banks currently under receivership, the FSC 
has announced that it will guarantee 100% of all deposits with Bowa 
Bank, even though Taiwan law guarantees protection up to NT$1.5 
million (US$45,455) per depositor.  (Note.  The 100% deposit 
protection is available for the seven banks put under surveillance 
in July 2005.  End Note.)  Nonetheless, withdrawals from Bowa Bank 
on the first working day after the takeover shot up to NT$3 billion 
(US$91 million), ten times the amount in a normal business day.  In 
response, the LBT moved NT$10 billion (US$303 million) to Bowa Bank 
to calm depositor concerns and meet the needs of any further 
withdrawals.  Taiwan's central bank has also assured depositors that 
their funds are safe. 
 
5.  Bank runs have not spread to the other two insolvent banks still 
under FSC surveillance.  Net withdrawals from ChinFon Commercial 
Bank on August 13, for example, amounted to only NT$20 million 
(US$606,000), according to the FSC. 
 
Planned Auction 
--------------- 
 
6.  The CDIC plans to auction off Bowa Bank in four to six months. 
The CDIC has auctioned off two of the other four insolvent banks put 
under receivership, including Enterprise Bank of Hualien (EBH) to 
China Trust Commercial Bank (CTCB) (ref A) and Taitung Business Bank 
(TBB) to ABN AMRO (ref B).  Compensation paid to these two bid 
winners totaled NT$11.4 billion (US$345 million), reducing Taiwan's 
resolution funds to NT$40.4 billion (US$1.2 billion). 
 
COMMENT 
------- 
 
7.  Putting Bowa into receivership brings Taiwan one step closer to 
resolving the problems of its troubled banks.  The question remains, 
however, where Taiwan will get the money to finish the job.  In 
October the CDIC is scheduled to auction two other banks - Chinese 
 
TAIPEI 00001989  002 OF 002 
 
 
Bank and China United Trust and Investment - which were put into 
receivership back in January.  The CDIC does not have the money to 
dispose of all of them.  This means that it will need to delay the 
auctions or reach some kind of deal with a state-owned institution 
to take on the distressed assets.  No additional infusion of funds 
is expected from the Executive Yuan. 
 
WANG