Sunday, March 20, 2011

#Japan #Earthquake: A Quiet Run on Mizuho Bank?

Not really, but Mizuho Bank has been having a lot of problem with its computer systems since March 15, when it could not process direct deposits because of a system overload at one branch in Kansai. It has halted withdrawal on all of its ATMs in Japan. Transactions over the Internet have also been halted. It hasn't been able to fix the system yet.

Yomiuri Shinbun (in Japanese; 3/20/2011) reports that on March 20 alone, 69,000 depositors of the bank withdrew the total 3.7 billion yen (US$45 million) at Mizuho's 440 branches.

Though withdrawal from the ATMs is halted, people can still go to the tellers at the bank and withdraw up to 100,000 yen (US$1,235) if they show their passbook or cash card, and some form of personal identification. Mizuho is opening the branches on March 21 (holiday in Japan) again to accommodate the depositors.

On March 19, 85,000 depositors withdrew the total 4.97 billion yen (US$61 million).


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