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One of his first edicts was to order banks to lower interest rates to 12percentt from as high as 17percentt.
But South Korea's top financial regulator said that while the government promised not to order banks to merge, it still intended to proceed with its revamping efforts.
If it faced an economy-wide credit crunch, the government would (as it has in the past) simply order banks to lend more.
Many people are hoarding the 10,000-dinar notes in the hope that the alliance authorities will order banks, or even publicly owned gas stations, to accept them at full value.
SHANGHAI, Dec. 8 — China said today that for the 10th time this year, it would order banks to raise the amount of cash they set aside, in order to curb inflation and prevent the economy from overheating.
He can't bring himself simply to order banks to stop paying bonuses because there are, it seems, contractual and other legal issues, but he went a long way to demand restraint and penitence.
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Mr. Landry said Chrysler was committed to eliminating the order bank by year's end.
On Friday, the House of Representatives may vote on a bill that would order bank regulators to restrict "inappropriate or imprudently risky" pay packages at larger banks.
"The government can't order bank management to do this and that," Yoshifumi Nishikawa, president of the Sumitomo Mitsui Financial Group, complained to the press in October 2002.
The figure did not include an undisclosed number of cars and trucks in an order bank that have not been spoken for by either dealers or customers.
The situation with Chrysler's order bank came to light last month, shortly before Chrysler reported a loss of nearly $1.5 billion for the third quarter.
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