April 16, 2020
Financial Services Agency
（Japanese version: published March 30, 2020)
Deadline of supervisory reports from financial institutions, etc. in consideration of the impact of the COVID-19 (novel coronavirus) infection
Due to the impact of the ongoing COVID-19 infection, there is concern that financial institutions, etc. may have an increased workload in submitting reports and notifications (including prior notifications) under the Banking Act and other statutes.
In view of such situation, the FSA considers flexible approach for financial institutions, etc.in case they may have a difficulty, due to the impact of the COVID-19 infection, in submission of reports and notifications for which the deadline for submission is legally fixed. Please feel free to consult with the FSA or your Local Finance Bureau or Branch Bureau.
With regard to reports, etc. for which the deadline for submission may be extended with legal approval, the FSA deals with applications for extension quickly and appropriately upon receiving them from financial institutions, etc.
(Ex.) (In the case of banks, etc.) Reports, etc. for which the deadline may be extended: business reports (within three months following the end of the fiscal year), public notice of the balance sheet (within three months following the end of the fiscal year), and more
(Notice on disclosure of the documents under the Financial Instruments and Exchange Act)
Notice regarding the deadline for submission of annual securities and other reports in connection with the COVID-19 (Novel Coronavirus) infection (Japanese version: published February 10, 2020, English version: published March 13, 2020)
Also, regarding reports and notifications for which the deadline for submission is not legally fixed, if financial institutions, etc. cannot even prepare these documents due to the impact of the COVID-19 infection, and they may submit the documents as soon as possible after the circumstances causing the delay end, the documents will be deemed to have been submitted without delay.
(Ex.) (In the case of banks, etc.) Notification of temporary suspension of a business office operation, notification of change of location of a business office, notification of establishment of a business office, and more
With regard to reports individually required under Article 24 of the Banking Act and other provisions of statutes, the FSA flexibly considers deadlines for submission while giving due consideration to the business situations of financial institutions, etc. affected by the COVID-19 infection. Please feel free to consult with the FSA or your Local Finance Bureau or Branch Bureau.
(Ex.) Daily accounts sheets, closing status tables, off-site monitoring reports, voluntary questionnaires, and more
If financial institutions, etc. are unable to hold an annual shareholders meeting, ordinary general meeting or member representatives meeting at the time stipulated in their articles of incorporation due to the impact of the COVID-19 infection, they may hold these meetings during a reasonable period following the end of the fiscal year, and the delay in holding the meetings may not be construed to be in breach of the articles of incorporation. This measure is also announced on the website of the Ministry of Justice.
Holding of Annual Shareholders Meetings (Ministry of Justice website) (available in Japanese)
In addition, if you are facing any obstacles, difficulties, or other issues caused by the COVID-19 infection, please do not hesitate to contact the FSA or your Local Finance Bureau or Branch Office.
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