FSA Weekly Review No.602 September 12, 2024

FSA Weekly Review No.602: September 13, 2024

What’s New on the FSA Website

Week of August 30, 2024 - September 5, 2024

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

Press Conferences

September 4, 2024	Press Conferences by SUZUKI Shunichi, Minister of Finance and Minister of State for Financial Services

Public Comments

August 30, 2024	Publication of the finalized amendments to the "Comprehensive Guidelines for Supervision of Small- and Medium-Sized and Regional Financial Institutions" alongside the finalized amendments to other relevant and applicable comprehensive guidelines after public consultation Request to financial institutions to promote M&A support, etc. for their corporate clients <Summary> The FSA finalized the amendments to the "Comprehensive Guidelines for Supervision of Small- and Medium-Sized and Regional Financial Institutions" as well as the amendments to other relevant and applicable comprehensive guidelines* after public consultation. The finalized amendments mainly provide necessary amendments to the Comprehensive Guidelines, etc., aimed at promoting consultative support from financial institutions to business owners in terms of M&A (Mergers and Acquisitions), PMI (Post Merger Integration), etc. The finalized amendments will take effect on October 1, 2024. Consequent to the finalized amendments to the applicable Comprehensive Guidelines for Supervision, the Cabinet Office alongside the competent ministries and agencies, including the FSA, jointly requested financial associations to encourage their member financial institutions to promote M&A support, etc. for their corporate clients (business owners). Details of the request are available only in Japanese here . *Other relevant and applicable guidelines are as follows: - Comprehensive Guidelines for Supervision of Major Banks, etc. - Comprehensive Guidelines for Supervision of Cooperative Financial Institutions (provisional English title), and - Comprehensive Guidelines for Supervision of Fisheries Cooperatives Engaging in Credit Business (provisional English title). The original press release is available in Japanese.(1) (2 )
August 30, 2024	Publication of the draft "Order to Amend the Order Regarding Account Management Institutions" for public consultation <Summary> The FSA proposed the draft "Order to Amend the Order Regarding Account Management Institutions" (hereinafter referred to as the "proposal") for public consultation. The proposal is intended to provide necessary amendments to the "Order Regarding Account Management Institutions" to allow a foreign account management institution to become a superior institution to a domestic account management institution, provided that certain requirements are met, thereby enabling domestic investors to use a payment service platform of a foreign account management institution through a domestic account management institution. Public comments will be accepted until 5:00 p.m. [JST], September 30, 2024. The original press release is available in Japanese.

August 30, 2024

Publication of the finalized amendments to the "Comprehensive Guidelines for Supervision of Small- and Medium-Sized and Regional Financial Institutions" alongside the finalized amendments to other relevant and applicable comprehensive guidelines after public consultation
Request to financial institutions to promote M&A support, etc. for their corporate clients

<Summary>
The FSA finalized the amendments to the "Comprehensive Guidelines for Supervision of Small- and Medium-Sized and Regional Financial Institutions" as well as the amendments to other relevant and applicable comprehensive guidelines* after public consultation.
The finalized amendments mainly provide necessary amendments to the Comprehensive Guidelines, etc., aimed at promoting consultative support from financial institutions to business owners in terms of M&A (Mergers and Acquisitions), PMI (Post Merger Integration), etc.
The finalized amendments will take effect on October 1, 2024.

Consequent to the finalized amendments to the applicable Comprehensive Guidelines for Supervision, the Cabinet Office alongside the competent ministries and agencies, including the FSA, jointly requested financial associations to encourage their member financial institutions to promote M&A support, etc. for their corporate clients (business owners). Details of the request are available only in Japanese PDF

here

*Other relevant and applicable guidelines are as follows:

- Comprehensive Guidelines for Supervision of Major Banks, etc.

- Comprehensive Guidelines for Supervision of Cooperative Financial Institutions (provisional English title), and

- Comprehensive Guidelines for Supervision of Fisheries Cooperatives Engaging in Credit Business (provisional English title).

The original press release is available in Japanese.(1

) (2

)

August 30, 2024

Publication of the draft "Order to Amend the Order Regarding Account Management Institutions" for public consultation
<Summary>
The FSA proposed the draft "Order to Amend the Order Regarding Account Management Institutions" (hereinafter referred to as the "proposal") for public consultation.
The proposal is intended to provide necessary amendments to the "Order Regarding Account Management Institutions" to allow a foreign account management institution to become a superior institution to a domestic account management institution, provided that certain requirements are met, thereby enabling domestic investors to use a payment service platform of a foreign account management institution through a domestic account management institution.

Public comments will be accepted until 5:00 p.m. [JST], September 30, 2024.

The original press release is available in Japanese. open new window

Press Releases

Policies

August 30, 2024	Publication of the FSA's FY 2025 request for tax revisions <Summary> The FSA published the FY 2025 request for tax revisions. The original press release is available in Japanese.
August 30, 2024	Publication of the expenditure budget request for FY 2025 <Summary> The FSA published the expenditure budget request for FY 2025. The original press release is available in Japanese.
August 30, 2024	Publication of the request for budget, organization and staff for FY 2025 <Summary> The FSA published an overview of the request for budget, organization and staff for FY 2025. The original press release is available in Japanese.
August 30, 2024	Publication of the FY 2023 Performance Evaluation Report <Summary> The FSA published the FY 2023 Performance Evaluation Report (available only in Japanese) following evaluations pursuant to the "Government Policy Evaluations Act."* * Ministries and agencies are required to conduct performance evaluations, and so forth, as prescribed in their basic plans and implementation plans for policy evaluation, pursuant to the said Act. The original press release is available in Japanese.

International

September 4, 2024	Bilateral meeting between Commissioner Ito and Chairman Kim, the Financial Services Commission of the Republic of Korea

Councils

August 30, 2024	Updated：Japan Corporate Governance Forum

Banks

August 30, 2024	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 July 31, 2024. * The majority of the data reflects the data until July 31, 2024, whereas the data of cooperative financial institutions reflects the data until June 30, 2024. The original press release is available in Japanese.

August 30, 2024

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 July 31, 2024.

* The majority of the data reflects the data until July 31, 2024, whereas the data of cooperative financial institutions reflects the data until June 30, 2024.

The original press release is available in Japanese. open new window

Others

September 2, 2024 August 30, 2024	Request for financial measures to deal with disasters caused by Typhoon No.10, 2024 (the Tokai Local Finance Bureau, the Fukuoka Local Finance Branch Bureau and the Kanto Local Finance Bureau) <Summary> The following Local Finance (Branch) Bureaus alongside the competent Branches of the Bank of Japan issued statements titled "Financial Measures to Deal with Disasters Caused by Typhoon No.10, 2024" to the relevant financial institutions: - The Tokai Local Finance Bureau alongside the Shizuoka Branch of the Bank of Japan (Statement issued as of August 30, 2024) - The Tokai Local Finance Bureau alongside the Nagoya Branch of the Bank of Japan (Statement issued as of September 2, 2024) - The Fukuoka Local Finance Branch Bureau alongside the Kitakyushu Branch and Fukuoka Branch of the Bank of Japan (Statement issued as of August 30, 2024) - The Kanto Local Finance Bureau alongside the Yokohama Branch of the Bank of Japan (Statement issued as of August 30, 2024) The said statements (available only in Japanese) request financial institutions in Shizuoka, Gifu, Fukuoka, and Kanagawa 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 Shizuoka and Gifu prefectures fall within the purview of the Tokai Local Finance Bureau, whereas those in Fukuoka prefecture fall within the purview of the Fukuoka Local Finance Branch Bureau, and those in Kanagawa prefecture fall within the purview of the Kanto 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. The original press release is available in Japanese.
August 30, 2024	2024 campaign for multiple-debt problem consultation and the updated web portal for the campaign information <Summary> Consultation counters at the respective local governments have furthered development based on the "Program to Remedy the Multiple-Debt Problem" which was decided in April 2007 by the Headquarters for the multiple-debt problems in the Cabinet Office. Meanwhile, the FSA has been cooperating with Local Finance Bureaus, local governments, and related organizations to run an annual campaign for multiple-debt problem consultation based on the said Program. The annual campaign is mainly aimed at enhancing the public awareness of the consultation counters and encouraging potential multiple debtors to seek advice from professionals at the consultation counters. The 2024 annual campaign has been scheduled from September 1 through December 31, 2024, wherein free of charge consultation services are provided nationwide and publicity activities are held to encourage the potential multiple debtors to come to the consultation counters. In this regard, the FSA updated the web portal for the information of 2024 annual campaign for multiple-debt problem consultation. Among various approaches and efforts taken by the FSA and relevant parties during the campaign, the web portal particularly highlights the schedule-information on temporary consultation sessions held (and to be held) during the campaign by professionals respectively from bar associations, judicial scriveners' associations, local finance bureaus, and prefectures, as well as information on permanent points of contact for consultations. The original press release is available in Japanese.(1 )(2 )
August 30, 2024	Japan Corporate Governance Forum

Site Map

About FSA Page list Open: Ministerial Team; Organization; Location; Pamphlet; Open Policy Lab
Press Releases & Public Relations Page list Open: Press Releases; Press Conferences; Official Statements; FSA Weekly Review & ACCESS FSA; Speeches; For Financial Users; Others; Archives
Policies & Councils Page list Open: Policies; Councils
Laws & Regulations Page list Open: Name of Laws and Regulations(PDF); Recent Changes (Legislation, Ordinances, Guidelines); Guidelines; Financial Instruments and Exchange Act; Financial Monitoring Policy; Public Comment; No-Action Letter System; Procedures concerning Foreign Account Management Institutions
Regulated Institutions Page list Open: List of Institutions; Administrative Action; Statistics; For those engaging in High Speed Trading; To Operators of Specially Permitted Businesses for Qualified Institutional Investors, etc.; Asia Region Funds Passport (ARFP)
FSA Weekly Review & ACCESS FSA Page list Open: Back Number (2022); Back Number (2021); Back Number (2020)

top of page