Japan's fifth-biggest bank said today it had asked for 1.96 trillion yen (€14.2 billion) in public funds and the government indicated it was ready to provide that amount.
Japanese Economics and Financial Services Minister Heizo Takenaka said that the government would inject the money into Resona Holdings through the purchase of both ordinary shares and preferred stock with voting rights.
After taking up those shares, the government would command two-thirds of the voting rights in Resona.
Resona has put a restructuring plan to the authorities. A shareholders' meeting is scheduled for June 27th, at which they will vote on a capital reduction and other issues, and the government funds could be injected soon after, Mr Takenaka added.