What’s New on the FSA Website

Week of October 29, 2021 - November 4, 2021

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

Public Comments

October 29, 2021

Publication of the draft amendments to the regulatory notices pertaining to leverage ratio requirements <Summary> The FSA proposed the draft amendments to the regulatory notice pertaining to leverage ratio requirements. Subsequent to the public consultation conducted in regard to Pillar 1 and Pillar 3 requirements of capital adequacy, the proposal mainly intends to provide corresponding amendments to leverage ratio requirements in response to the finalized Basel III framework (which refers to a consolidated package of the "Basel III framework" (December 2017) and the "market risk capital framework (minimum capital requirements for market risk)" (January 2019)). (This public comment is available in Japanese) https://www.fsa.go.jp/news/r3/ginkou/20211029-2.html

October 29, 2021

Publication of the finalized "Order to Amend the Order for Enforcement of the Postal Service Privatization Act" and the draft "Order to Amend the Order on Limitation, etc. on Business During the Transition Period Pertaining to Japan Post Bank and Japan Post Insurance Company" <Summary> The FSA and the MIC (Ministry of Internal Affairs and Communications) finalized the "Order to Amend the Order for Enforcement of the Postal Service Privatization Act" and the "Order to Amend the Order on Limitation, etc. on Business During the Transition Period Pertaining to Japan Post Bank and Japan Post Insurance Company." Under the "Postal Service Privatization Act," a postal insurance corporation must notify the Prime Minister and the Minister of Internal Affairs and Communications in cases where the postal insurance corporation intends to underwrite certain types of insurance, manage assets, or engage in other business on or after the date on which JAPAN POST HOLDINGS Co., Ltd. has notified the Minister of Internal Affairs and Communications that it has disposed of one-half or more of its shares in the postal insurance corporation. In this respect, the said Orders mainly update the scope of insurance that can be underwritten, as well as the specific matters of which notification must be provided to the authorities by postal insurance corporations. The Orders were enforced on October 29, 2021. (This public comment is available in Japanese) https://www.fsa.go.jp/news/r3/hoken/20211029.html

Press Releases

Policies

October 29, 2021

Publication of the "Policy Evaluation Implementation Plan for FY 2021" <Summary> The FSA published its "Policy Evaluation Implementation Plan for FY 2021." To ensure objectivity and improve the quality of evaluation, the plan has been reviewed by outside experts, and their inputs are reflected in the plan. The FSA will conduct policy evaluation pursuant to the plan and the results will be published in due course. (This press release is available in Japanese) https://www.fsa.go.jp/news/r3/sonota/20211029_2/20211029_2.html

Councils

November 2 and 4, 2021

Publication of the outline of proceedings of the second meeting as well as the agenda and handouts of the third meeting of the "Advisory Council on the Systems of Accounting and Auditing" (FY 2021) <Summary> On the respective dates of November 2 and 4, 2021, the FSA published the outline of proceedings of the second meeting of the "Advisory Council on the Systems of Accounting and Auditing" (FY 2021), and the agenda and handouts of the third meeting of the said Advisory Council, which were held on October 11 and November 4, 2021, respectively. The Advisory Council is aimed at comprehensively discussing various issues pertaining to accounting and auditing. (These press releases are available in Japanese) https://www.fsa.go.jp/singi/kaikeikansanoarikata/siryou/20211104.html https://www.fsa.go.jp/singi/kaikeikansanoarikata/gijiyousi/20211011.html

November 1, 2021

Publication of the agenda and handouts of the fourth meeting of the "Study Group on Digital- and Decentralized-Finance" (provisional English title) <Summary> The FSA published the agenda and handouts of the fourth meeting of the "Study Group on Digital- and Decentralized-Finance" (provisional English title) which was held on November 1, 2021. (This press release is available in Japanese) https://www.fsa.go.jp/singi/digital/siryou/20211101.html

 

Banks

November 1, 2021

Summary of Results of the Brief Survey on the Use of JPY LIBOR）

October 29, 2021

Overview of modifications to lending conditions by financial institutions <Summary> The FSA published an overview of modifications to lending conditions made by financial institutions for the period from March 10, 2020, to September 30, 2021. * The majority of the data reflects the data until September 30, 2021, whereas the data of cooperative financial institutions reflects the data until June 30, 2021. (This press release is available in Japanese) https://www.fsa.go.jp/ordinary/coronavirus202001/kashitsuke/20200430.html

 

Others

November 4, 2021	Publication of NGFS Glasgow Declaration and FSA’s Sustainable Finance Strategy as NGFS member
November 4, 2021	Publication of the agenda and handouts of the "Study Group on Environmental Improvement for Effective Transition Finance" (provisional English title) <Summary> The FSA published the agenda and handouts of the fourth meeting of the "Study Group on Environmental Improvement for Effective Transition-Finance" (provisional English title), which was jointly held on November 4, 2021 by the FSA, the METI (Ministry of Economy, Trade and Industry), and the MoE (Ministry of the Environment) to formulate basic principles for transition-finance in Japan, particularly in terms of raising funds through transition bonds, loans, etc. (This press release is available in Japanese) https://www.fsa.go.jp/singi/transition_finance/siryou/20211104.html
November 2, 2021	Establishment of "Financial Institutions' Computer Systems and Frontrunners' Support-Desk" (provisional English title) <Summary> The FSA has newly established "Financial Institutions' Computer Systems and Front-Runners' Support-Desk" (provisional English title). This new Support-Desk is a revamped version with enhanced functions of "Enterprise System and Frontrunner Support-Hub" established in March 2020 for financial institutions considering the implementation of innovative/cutting-edge approaches/initiatives. In particular, in terms of easy accessibility to the Support-Desk, applicants are no longer required to file prior applications and notifications, and consultancy services from the Support-Desk will be provided in a more simplified and flexible manner. The scope of the Support-Desk will be enhanced to include consultations on innovative/cutting-edge projects, including not only enterprise systems but also information systems, as well as API interaction/linkage with external systems. The Support-Desk will continue to provide support from the perspectives of system monitoring, including IT governance and IT-related risk management, as well as interpretation of laws and regulations (regulatory applicability). (This press release is available in Japanese) https://www.fsa.go.jp/news/r1/sonota/20200326.html
November 1, 2021	Certification of Japan Financial Service Intermediary Business Association as a certified association for financial instruments business operators <Summary> The FSA certified Japan Financial Service Intermediary Business Association as a certified financial service intermediary business association pursuant to the "Act on Provision of Financial Services" which was enforced on November 1, 2021. (This press release is available in Japanese) https://www.fsa.go.jp/news/r3/kinsa/20211101.html
November 1, 2021	The FSA's initiatives for the reduction of food loss as well as food donation through the effective use of a portion of the government's emergency food reserves <Summary> From the perspective of reducing food loss and supporting people in need, the FSA has been engaging in food donation to food bank (hunger-relief) organizations and other outreach groups since August 2021, by making effective use of a portion of food reserves (mainly non-perishable foods, such as canned goods) that are originally kept for disaster-relief/emergency by the government. The FSA has called for applications for its second offering of a portion of its emergency food reserves subsequent to the first offering made in August 2021. (This press release is available in Japanese) https://www.fsa.go.jp/choutatu/choutatu_j/choutatsu_saigaisyokuhin.html
November 1, 2021	Updated list of issuers of gift certificates in repayment procedures based on the ’Payment Services Act’
October 29, 2021	Launch of an open e-learning course entitled "Moneyvita: Money Wisdom to Enrich Your Life" (provisional English course title) <Summary> The FSA, the Bank of Japan (BOJ), and related organizations involved in financial and economic education have teamed up to launch an open e-learning course entitled "Moneyvita: Money Wisdom to Enrich Your Life" (provisional English course title).* The e-learning course program provides a series of financial literacy tutorial videos, covering a wide range of topics, from the basics of finance, including the structure of the economy as well as interest rates, to life planning, borrowing, asset building, insurance, and knowledge that enables us to avoid running into trouble in the use of financial services. The e-learning course is open to everyone, and will be available from November 25, 2021, to March 31, 2022, on "gacco®," a free online course platform operated by Docomo gacco Inc. *Moneyvita is a word coined from the combination of "money" and "vitamin." This coinage word was chosen as the name of the said e-learning course in the hope that the participants would acquire the wisdom about money that is essential for life, just as they take in essential vitamins from food. (This press release is available in Japanese) https://www.fsa.go.jp/news/r3/sonota/20211029/20211029.html
October 29, 2021	Appendix added : Finalization of the Revised Guidelines for Investor and Company Engagement