July 11, 2024
Publication of a draft Cabinet Order, draft Cabinet Office Orders, and a draft regulatory notice in response to the enactment (in FY 2023) of the “Act Partially Amending the Act on Book-Entry Transfer of Corporate Bonds and Shares,” etc. to respond to changes in the environment involving advances in information technology
<Summary>
The FSA published a draft Cabinet Order, draft Cabinet Office Orders, and a draft regulatory notice (hereinafter collectively referred to as “Ministerial Orders” or “the proposal”) in response to the “Act Partially Amending the Act on Book-Entry Transfer of Corporate Bonds and Shares,” etc. to respond to changes in the environment involving advances in information technology, which was enacted on November 20, 2023.
The proposal is mainly intended to develop the provisions of the said applicable Ministerial Orders pertaining to digitization of capital contributions by special corporations, notice periods, etc. for requesting account information from incumbent shareholders, etc., and other relevant matters.
Public comments will be accepted until 5:00 p.m. (JST), August 10, 2024.
The original press release is available in Japanese.
July 10, 2024
Publication of the finalized amendments to the “Comprehensive Guidelines for Supervision of Major Banks, etc.” and other relevant and applicable guidelines after public consultation
<Summary>
The FSA finalized the amendments to the “Comprehensive Guidelines for Supervision of Major Banks, etc.” and other relevant and applicable Guidelines after public consultation.
While the current Comprehensive Guidelines set forth that the FSA will request financial institutions to take financial measures when a disaster has occurred or is likely to occur, the finalized amendments provide amendments to those Comprehensive Guidelines to expressly set out the content of such a request.
The finalized amendments took effect on July 10, 2024.
The original press release is available in Japanese.
July 8, 2024
Publication of the finalized “Cabinet Office Order to Amend the Regulation for Enforcement of the Banking Act” alongside other relevant and applicable draft Orders and Cabinet Office Orders after public consultation
<Summary>
The FSA published the finalized “Cabinet Office Order to Amend the Regulation for Enforcement of the Banking Act” alongside other relevant and applicable draft Orders and Cabinet Office Orders after public consultation.
The finalized Cabinet Office Order and others mainly provide amendments to the said Regulation for Enforcement in regard to electronic payment services:
(1) to exempt intra-group transmission of remittance instructions and acquisition of information on deposit accounts from the scope of the regulation for electronic payment services, and
(2) to clarify measures to promote Application Programming Interface (API) integration.
The finalized Cabinet Office Order and others were enforced on July 9, 2024.
The original press release is available in Japanese.
July 5, 2024
Publication of the draft “Cabinet Office Order to Amend the Regulation for Enforcement of the Shinkin Bank Act” and others for public consultation
<Summary>
The FSA published the draft “Cabinet Office Order to Amend the Regulation for Enforcement of the Shinkin Bank Act” and others pertaining to the LEX (Large Exposures) Framework (hereinafter collectively referred to as the “proposal”) for public consultation.
The proposal mainly intends to set forth the development of calculation methods for exposures in trading accounts at Shinkin banks, etc., and to provide other necessary consequential amendments.
Public comments will be accepted until 12:00 p.m. (noon time) [JST], August 5, 2024.
The original press release is available in Japanese.
Press Releases
International
Publication
Councils
Banks
July 11, 2024
Publication of a research report on lending practices by financial institutions that promote sustainable growth of business owners in Japan and on the impact of such practices
<Summary>
The FSA commissioned TEIKOKU DATABANK, Ltd. to conduct quantitative and qualitative research on the number of financial institutions from which business owners borrow (as their correspondent banks, financing banks, etc.) and on the impact of lending practices on the business performances of business owners (corporate borrowers), in addition to the actualities of such lending practices based on whether loans are secured by real estate. The compiled research report is available only in Japanese.
The original press release is available in Japanese.
July 10, 2024
Publication of a progress report on Business Revitalization Plans
<Summary>
The FSA published a report on the progress of business revitalization filed by SBI Shinsei Bank, Limited* as of March 31, 2024, pursuant to the “Act on Emergency Measures for Early Strengthening of Financial Functions.”
July 5, 2024
Publication of a statistical report on business revitalization, etc. utilizing the “Guidelines for Business Revitalization, etc. of Small- and Medium-sized Enterprises”
<Summary>
The FSA has been encouraging financial institutions to actively utilize the “Guidelines for Business Revitalization, etc. of Small- and Medium-sized Enterprises” in providing financial support, etc. to their clients. From the perspective of further encouraging the utilization of the said Guidelines, the FSA published a statistical report on business revitalization utilizing the said Guidelines. The statistical report reflects the period between April 1, 2022, and March 31, 2024. (The report and the Guidelines are available only in Japanese).
The original press release is available in Japanese.
Others
July 11, 2024
Request for financial measures to deal with disasters caused by the heavy rain from July 9, 2024 (The Chugoku Local Finance Bureau)
<Summary>
The Chugoku Local Finance Bureau alongside Matsue Branch of the Bank of Japan issued a statement titled “Financial Measures to Deal with Disasters Caused by Heavy Rain from July 9, 2024” (available only in Japanese) to the relevant financial institutions.
The statement requests financial institutions in Shimane prefecture* to appropriately deal with victims of the disaster considering their circumstances, such as by making the repayment of deposits flexible.
* Matters related to financial measures in Shimane prefecture fall within the purview of the Chugoku Local Finance Bureau.
Disaster-affected areas in the prefecture are currently subject to the “Disaster Relief Act.” If more areas in the prefectures become subject to the said Act, financial institutions in the prefecture will be requested to take measures in the same manner as above accordingly.
The original press release is available in Japanese.
July 11, 2024
Publication of results of a survey and research on users of services provided by money lenders
<Summary>
The FSA commissioned Institute for MSS, a research company, to conduct research to analyze and understand awareness of general consumers and business owners (corporate borrowers) using services provided by money lenders, thereby utilizing the findings from the research in the FSA’s future policy making. The compiled research report is available only in Japanese.
The original press release is available in Japanese.
July 11, 2024
Publication of the results of the policy evaluation for FY 2022
<Summary>
Pursuant to the “Government Policy Evaluations Act,” all Ministries and Agencies are required to conduct annual policy reviews and reflect the results to improve their policies in order to realize an efficient, high-quality, and results-oriented government administration.
The FSA published the results of the policy evaluation for FY 2022.
The original press release is available in Japanese.
July 5, 2024
Publication of the monitoring results pertaining to the implementation status of customer-oriented business conduct by distributors of financial instruments, such as investment trusts (program year 2023 report)
<Summary>
The FSA published the program year 2023 report of monitoring results pertaining to the implementation status of customer-oriented business conduct by distributors of financial instruments, such as investment trusts.
The report mainly compiles issues which can be common across distributors and arrangers engaging in the structuring of financial instruments in terms of introducing, selling, and managing financial instruments, based on the actual status ascertained through the monitoring of customer-oriented business conduct in the program year 2023.
