Press Conference by SUZUKI Shunichi, Minister of Finance and Minister of State for Financial Services
(Tuesday, July 5, 2022, 9:16 am to 9:25 am)
[Questions and answers:]
The recent communications failure by KDDI, a telecommunication company, left ATMs unavailable for use at some financial institutions, so could you please tell us how you see the impact of such communication failures and what measures should be taken?
We received a report that mobile phone service provided by KDDI was affected and many users were left unable to utilize a variety of services including financial services for an extended period of time. This was a very regrettable situation.
Generally speaking, I think it is important that financial institutions envision a wide variety of potential failure risks pertaining to services provided by third parties, and then regularly consider countermeasures such as securing alternatives, formulating manuals to ensure a quick restoration of operations, conducting day-to-day trainings, and making preparations to minimize the impact on customers.
Because this failure has impacts on some banks, Financial Services Agency will receive reports on the impacts of this failure and then review the details of those reports.
- Laws & RegulationsPage list Open
- Name of Laws and Regulations(PDF)
- Financial Instruments and Exchange Act
- Recent Changes
- Public Comment
- Capital adequacy requirements (Basel framework)
- No-Action Letter System
- Procedures concerning Foreign Account Management Institutions
- PrinciplesPage list Open
- Strategic Directions and Priorities
- Progress and Assessment of the Strategic Directions and Priorities
- Policy Approaches to Strengthen Cyber Security in the Financial Sector
- Financial Monitoring Policy
- AnnouncementsPage list Open
- Press Conferences
- Press Releases
- Official Statements
- Disaster-related Information (Support for Disaster Victims)
InstitutionsPage list Open
- List of Institutions
- For those engaging in High Speed Trading
- To Operators of Specially Permitted Businesses for Qualified Institutional Investors, etc.