PREVIEW

... rly all domestic banks went bankrupt, and the powerful Near East Development Bank also faced an unprecedented run.

In the aftermath of the run, the Near East Development Bank used the pretext of recalling funds to sell off a large number of risky loan documents for cash.

With the injection from major shareholders, it barely survived the run crisis. The bank’s credibility was preserved, but its cash flow was still largely depleted, forcing a strategic contraction.

As a res ...

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