What’s New on the FSA Website

Week of June 1, 2020 - June 5, 2020

This page contains the latest in events, developments, and updates to the FSA website.

Public Comments

(The following public comment is available in Japanese)

June 5, 2020

Publication of the finalized "Cabinet Office Order to Amend the Ordinance for Enforcement of the Act on Investment Trusts and Investment Corporations" and the finalized amendments to the "Cabinet Office Order on Financial Instruments Business" <Summary> The FSA has finalized the "Cabinet Office Order to Amend the Ordinance for Enforcement of the Act on Investment Trusts and Investment Corporations" and the amendments to the "Cabinet Office Order on Financial Instruments Business." The amendments introduce regulatory requirements for the liquidity risk management of open-ended funds, in line with the IOSCO's* recommendations for liquidity risk management for open-ended collective investment schemes. The Cabinet Office Orders will be enforced on January 1, 2022 except the amended provisions (Article 271 (1) (vi)) of the "Cabinet Office Order to Amend the Ordinance for Enforcement of the Act on Investment Trusts and Investment Corporations." * IOSCO stands for International Organization of Securities Commissions.

Press Releases

(The following press releases are available in English)

Banks

June 5, 2020	Overview of major banks’ financial results as of March 31, 2020
June 5, 2020	Overview of the Japanese regional banks’ financial results for the fiscal year ended March 31, 2020

 

Others

June 5, 2020	G20: Efforts on Governance Issues in Decentralized Financial Systems "BGIN" - new global network
June 4, 2020	FSA updated Information on COVID-19 (Novel Coronavirus)
June 3, 2020	Stewardship Code : 281 institutional investors have signed up to the Principles for Responsible Institutional Investors as of May 29, 2020
June 1, 2020	Letters to the CEOs of Major Financial Institutions regarding LIBOR Transition

 

(The following press releases are available in Japanese)

Policies

June 3, 2020

Publication of the results of the policy evaluation for FY 2018 <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 2018.

 

Banks

June 5, 2020

Publication of the updated "Comprehensive Guidelines for Supervision of Small- and Medium-Sized and Regional Financial Institutions" in regard to approval in a case where credit extended to a central institution (organization) for cooperative financial institutions  comes to exceed the limit on credit, etc. <Summary> The FSA has updated the "Comprehensive Guidelines for Supervision of Small- and Medium-Sized and Regional Financial Institutions" in regard to approval in a case where credit extended to a central institution (organization) for cooperative financial institutions comes to exceed the limit on extension of credit, etc. The updates to the Guidelines expressly set forth the FSA's perspective on its approval/assessment when credit extended to central institutions for cooperative financial institutions comes to exceed the limit on extension of credit, etc., following the Bank of Japan's introduction of the "Special Rules for Member Financial Institutions of Central Organizations of Financial Cooperatives to Use the Special Funds Supplying Operations to Facilitate Financing in Response the Novel Coronavirus (COVID-19)."* The updates have been enforced since June 5, 2020. * The Special Rules ensure smooth financing of cooperative financial institutions through their central institutions (organizations) when the cooperative financial institutions meet certain requirements.

June 2, 2020

Outline of the "Report on the Measures for the Resolution of Failed Financial Institutions" delivered by the Minister of State for Financial Services, ASO Taro, in the Committee on Financial Affairs of the House of Councillors <Summary> The Minister of State for Financial Services, ASO Taro, delivered an outline of the "Reports on the Measures for the Resolution of Failed Financial Institutions" in the Committee on Financial Affairs of the House of Councillors which was held on June 2, 2020. The report, addressing the period extending from April 1 to September 30, 2017, was submitted to the Diet on December 8, 2017 pursuant to the "Act on Emergency Measures for the Revitalization of the Financial Functions."

 

Others

June 5, 2020

Online symposium entitled "The Future of Financial and Economic Education and of Personal Asset Building – Taking into Account the Impact of Coronavirus Disease 2019 (COVID-19)" (provisional English title) <Summary> On June 20, 2020, the FSA will hold an online symposium entitled "The Future of Financial and Economic Education and of Personal Asset Building –Taking into Account the Impact of Coronavirus Disease 2019 (COVID-19)" (provisional English title). The symposium is mainly aimed at: sharing and discussing challenges in financial and economic education (toward stable long-term personal asset building); sharing different stakeholders' perspectives on investments amid unstable markets; and sharing ideas on how retail financial service users (retail investors) should prepare for their asset building. The symposium will bring together various stakeholders, including educators and relevant experts involved in financial and economic education, retail investors, and representatives/officials from the BOJ (Bank of Japan), the FSA and others. (The number of participants is limited to 1,000, and registrations through the FSA's URL: <https://supportoffice.jp/fsa2020/> will be accepted on a first-come, first-served basis).