FSA Weekly Review No.547

The following Local Finance Bureaus alongside the competent Branches of the Bank of Japan issued statements titled "Financial Measures to Deal with Disasters Caused by the Heavy Rain from July 7, 2023" to the relevant financial institutions:

 

- The Hokuriku Local Finance Bureau alongside the Kanazawa Branch of the Bank of Japan ( Statement issued as of July 14, 2023)

- The Tohoku Local Finance Branch Bureau alongside the Akita Branch of the Bank of Japan (Statement issued as of July 18, 2023)

- The Tohoku Local Finance Branch Bureau alongside the Aomori Branch of the Bank of Japan (Statement issued as of July 18, 2023)

 

The said statements (available only in Japanese) request financial institutions in Toyama, Akita, and Aomori prefectures* 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 Toyama prefecture fall within the purview of the Hokuriku Local Finance Bureau, and those in Akita and Aomori prefectures fall within the purview of the Tohoku Local Finance Bureau. 

Disaster-affected areas in the said prefectures are currently subject to the "Disaster Relief Act." If more areas in the prefecture become subject to the said Act, financial institutions in the prefecture will be requested to take measures in the same manner as above accordingly.