[Minister in His Own Words]

This section provides information regarding the hot topics of the moment, selected from questions and answers given at the Minister's press conferences, etc.

If you wish to find out more, we invite you to visit the “Press Conferences” section of the FSA website.

A1. As to the Guidelines of Workout for Restructuring Debt Owed by Individual Debtors, a study group comprising representatives from the financial industry, associations of small and medium-size enterprises (SMEs) and the legal and academic circles was established with the Japanese Bankers Association as its secretariat, in response to the government's announcement of its policy for dealing with the double loan problem on June 17. On July 15, the Guidelines of Workout for Restructuring Debt Owed by Individual Debtors was worked out after consultations among the relevant parties, as I understand it. I would like to pay respect to the relevant parties for their efforts to quickly work out the Guidelines. I believe that it is important that necessary preparations be made to ensure smooth application of the Guidelines.

The FSA hopes that the use of the Guidelines will facilitate the process of debt workout for individuals who cannot repay existing debts due to the impact of the Great East Japan Earthquake and will contribute to the rebuilding of lives and businesses by debtors through their self-help efforts and to the reconstruction and revitalization of the disaster areas.

Let me point out one thing. The secretariat, which is managed mainly by the Japanese Bankers Association, includes, as observers, representatives from the FSA, the Ministry of Economy, Trade and Industry, the Ministry of Agriculture, Forestry and Fisheries, the Ministry of Land, Infrastructure, Transport and Tourism, the Ministry of Health, Labour and Welfare, the Ministry of Justice, and the Ministry of Finance, among other government organizations.

[Extract from the press conference following the Cabinet meeting on July 19, 2011]

A2. I understand that at a summit meeting of the euro zone countries on July 21, the Greek problem was discussed and an agreement was reached on the second public aid package for Greece that is worth some 109 billion euros and the expansion of the European Financial Stability Facility to enable the purchase of government bonds in the secondary market.

We expect that as an effort to resolve the European debt problem, this agreement will help to stabilize the market. I understand that efforts to achieve financial stability will be continued by relevant authorities including the governments of the countries adopting the euro, and the FSA will continue to carefully monitor the situation.

[Extract from the press conference following the Cabinet meeting on July 22, 2011]

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[ Press Releases in July ]

July 1	Access		“Revised Money Lending Act Follow-up Team”: Interview with related people (June 27)
	Access		“Opinion paper on revision of semi-annual auditing standards and quarterly review standards” published
	Access		General Meeting of the Business Accounting Council and the Planning Coordination Subcommittee program
	Access		“Financial Inspection Results Casebook” published, etc.
	Access		Addition of “Q&A on Tender Offers for Shares, etc.”
	Access		Execution status report on business revitalization plans
July 5	Access		“Draft Partial Revision of Notices on Capital Adequacy Ratios of Financial Instruments Business Operators, etc.” published
July 6	Access		Revision of Measures to Prevent Negative Effects related to Insurance Solicitation by Banks, etc.
July 7	Access		Action against an audit firm and certified public accountants
July 8	Access		“Draft Cabinet Office Ordinance for Partial Revision of the Order for Enforcement of the Insurance Business Act”, etc. published
	Access		Administrative action against PBA Asset Management Co., Ltd.
	Access		Comprehensive Inspection of IT System Risks in Financial Institutions
	Access		“Draft Cabinet Office Ordinance for Partial Revision of the Regulation for Calculation of Investment Trust Assets, etc.,” etc. - Results of public comments, etc.
	Access		Financial System Council “Working Group on Insider Trading Regulation” (1st) Program
July 11	Access		Draft related Cabinet Orders and Cabinet Office Ordinances to accompany enforcement of the “Act for Partial Revision of the Act on Special Measures to Strengthen Financial Functions to Enhance the Business Foundations of Financial Institutions in Response to the Great East Japan Earthquake, and of the Act on Special Measures for Promotion of Organizational Restructuring of Financial Institutions”, etc. published
	Access		Draft partial revision of the “Comprehensive Guidelines for the Supervision of Regional Financial Institutions” published
July 14	Access		“Proposal of Project Team on Specific Uses of Payments to the Deposit Insurance Corporation” by the “Project Team on Issues Surrounding Payments to Deposit Insurance Corporation Stipulated in the Act on Furikome Fraud Relief” published, and solicitation of opinions on the project team proposal
	Access		Draft Partial revisions of “Comprehensive Guidelines for the Supervision of Major Banks, etc.” and “Comprehensive Guidelines for the Supervision of Regional Financial Institutions”, etc. (Review of customs such as individual guarantors by third parties other than managers) - Results of public comments, etc.
July 15	Access		Administrative action against ShinTokyoCity Securities Co., Ltd.
	Access		“Draft Cabinet Office Ordinance for Partial Revision of the Cabinet office ordinance on Audit Attestation of Financial Statements”, etc. - Results of public comments, etc.
	Access		“Draft Cabinet Office Ordinance for Partial Revision of the Ordinance for Enforcement of the Banking Act, etc.” published
July 19	Access		Disciplinary action against CPA (1)
	Access		Disciplinary action against CPA (2)
	Access		“Children Visitors Day” notice
	Access		Actual Insurance Payouts and Mutual Aid Payouts related to the Great East Japan Earthquake
July 20	Access		Decision on penalty payment order for insider trading by a recipient of information from a person who concluded a contract with JO Group Holdings Co., Ltd.
July 21	Access		Consultative documents on Systemically Important Financial Institutions (SIFIs) published by the Financial Stability Board and Basel Committee on Banking Supervision
July 22	Access		Status of handling counterfeit ATM card problems, etc. (March 31, 2011)
	Access		Status of crime involving counterfeit ATM cards, etc.
	Access		Decision on penalty payment order for insider trading by a recipient of information from a person who concluded a contract with a subsidiary of OX Holdings Co., Ltd. (1)
	Access		Decision on penalty payment order for insider trading by a recipient of information from a person who concluded a contract with a subsidiary of OX Holdings Co., Ltd. (2)
July 26	Access		Situation of changes in lending conditions based on the Act concerning Temporary Measures to Facilitate Financing for SMEs, etc.
	Access		“Draft Cabinet Office Ordinance for Partial Revision of the Ordinance for Enforcement of Money Lending Business Act,” etc. - Results of public comments, etc.
	Access		Draft Partial Revision of “Comprehensive Guidelines for the Supervision of Regional Financial Institutions” - Results of public comments, etc.
	Access		Draft related Cabinet Orders and Cabinet Office Ordinances to accompany enforcement of the “Act for Partial Revision of the Act on Special Measures to Strengthen Financial Functions to Enhance the Business Foundations of Financial Institutions in Response to the Great East Japan Earthquake, and the Act on Special Measures for Promotion of Organizational Restructuring of Financial Institutions”, etc. - Results of public comments, etc.
July 28	Access		Working Group on Regulatory Approach to Group Management of Insurance Companies (2nd) program
July 29	Access		2nd Financial System Council “Working Group on Medium and Long Term Approach of Japan's Financial Industry” program
	Access		Status of counseling etc. provided by the “Counseling Office for Financial Services Users” (period: April 1 to June 30, 2011)
	Access		“Draft Cabinet Office Ordinance for Partial Revision of the Cabinet Office Ordinance on Financial Instruments and Exchange Business” published
	Access		Results of solicitation of opinions on the FY2012 Tax System Revisions Request
	Access		“Draft Cabinet Office Ordinance for Partial Revision of the Cabinet Office Ordinance on Disclosure of Information, etc. on Specified Securities” - Results of public comments, etc.
	Access		Decision on penalty payment order for insider trading by a recipient of information from a Tsuzuki Denki Co., Ltd. employee
	Access		Number of cases in information provided concerning improper use of deposit accounts
	Access		Money lending business related documents updated
	Access		Outline of results of questionnaire survey on user evaluations of region-based relationship banking initiatives of regional financial institutions
	Access		“Draft Cabinet Office Ordinance for Partial Revision of the Cabinet Office Ordinance Relating to Definitions Prescribed in Article 2 of the Financial Instruments and Exchange Act, and of the Cabinet Office Ordinance on Regulation of Trading of Securities” - Results of public comments, etc.
	Access	is a link to the publication web page.

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Web Pages Most Accessed in July

This section shows the July Press Releases web pages which were accessed the most.

To see the web pages most accessed in the past, go to the FSA web site's Web pages most accessed (past data, etc.) (Available in Japanese only)

• Financial institutions being inspected by FSA
• List of licensed (registered) financial institutions
• Financial Facilitation Measures for Small and Medium-sized Enterprises
• “Financial Inspection Results Casebook” published
• Action against an audit firm and certified public accountants
• Comprehensive inspection of IT system risks in financial institutions
• Revision of measures to prevent negative effects related to insurance solicitation by banks, etc.
• “Study on Application of IFRS” June 21, 2011, Minister for Financial Services Shozaburo Jimi
• Joint Meeting of the Planning Coordination Subcommittee and General Meeting of the Business Accounting Council
• Status of response to the recent earthquake by the FSA, Local Finance Bureaus and Finance