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This level of net worth gives the combined company a legal lending limit, to any single entity, of approximately $9 million.
This significantly alters how the relationships are viewed from a legal lending limit standpoint, Johnson said.
That's because each bank, according to Luther Guinn at the Arkansas State Bank Department, has a legal lending limit.
The report raises concerns that many of the factors that caused the crisis have still to be addressed, including lax prudential standards, flouting of legal lending limits, excessive leveraging by corporations, abuses by majority shareholders, and political interference in business decision-making.
``On a combined basis, our legal lending limits increase as a result of merging.
To receive government assistance, bank business plans must include programs to raise the ratio to a minimum level of 8% by 2001, meet legal lending limits or end excessively ''connected lending'' and be able to provide Bank Indonesia liquidity support.
Borrowers with less than "A" credit who are seeking financing for a highly leveraged deal, or need larger loans that exceed the legal lending limits of most savings banks, will find securing financing to be a more arduous route than a few months ago.
One immediate benefit of the merger is that the new bank will now have higher legal lending limits due to its larger capital base, enabling the bank to handle larger loans.