Featured Product

    JFSA Amends Notices on IFRS 9 and Capital Adequacy Requirements

    March 19, 2020

    JFSA published, in the Official Gazette, amendments to the regulatory notice of the "designated International Financial Reporting Standards" stipulated in the "Regulation for Terminology, Forms, and Preparation of Consolidated Financial Statements." The designated reporting standards are IFRS 9 on financial instruments, IAS 39 on recognition and measurement of financial instruments, and IFRS 7 on disclosure of financial instruments. The amended regulatory notice has been enforced on March 19, 2020. JFSA also published results of the consultation on amendments to the regulatory notices related to capital adequacy (Pillar 1 requirements).

    The amendments to the regulatory notices related to capital adequacy mainly revise the capital adequacy regulation on double-gearing (restriction on banks' investments in other banks). JFSA received a total of eights comments on the consultation. The amended regulatory notices and supervisory guidelines will be applied from the date of promulgation, which will be announced in due course.

    Additionally, JFSA proposed draft amendments to the comprehensive guidelines for supervision of major banks, small, medium and regional financial institutions, insurance companies, and other institutions, along with the draft regulatory notice that highlights documents to be submitted to the JFSA pursuant to the provisions of Article 349 of the "Cabinet Office Order on Financial Instruments Business, etc." To improve administrative procedures utilizing information and communications technology and ensure simplification and efficiency of administrative operations, the proposal intends to expressly set forth in the guidelines the specifics of administrative procedures through online application. Opinions on the proposal are requested by April 13, 2020.

     

    Effective Date: March 19, 2020

    Keywords: Asia Pacific, Japan, Banking, Insurance, Financial Instruments, IFRS 9, IAS 39, Dislcosures, IFRS 7, Pillar 1, Capital Adequacy, Basel, Regulatory Capital, JFSA

    Featured Experts
    Related Articles
    News

    EC Issues Regulation on Adjustments to K-Factor Coefficients Under IFR

    The European Commission (EC) published a report summarizing responses to the targeted consultation on the supervisory convergence and the single rulebook in the European Union (EU).

    January 20, 2022 WebPage Regulatory News
    News

    OSFI Issues Results of Pilot on Climate Risk Scenario Analysis

    The Office of the Superintendent of Financial Institutions (OSFI) published an update on the discussion paper that intended to engage federally regulated financial institutions and other interested stakeholders in a dialog with OSFI, to proactively enhance and align assurance expectations over key regulatory returns.

    January 20, 2022 WebPage Regulatory News
    News

    ECB Issues Opinions on Green Bonds Standard and CRR Proposals

    The European Central Bank (ECB) published its opinion on a proposal for a regulation on European green bonds, following a request from the European Parliament.

    January 19, 2022 WebPage Regulatory News
    News

    ESRB Explores Policy Response to Risks Arising from Digitalization

    The Advisory Scientific Committee (ASC) of the European Systemic Risk Board (ESRB) published a report that explores the expected impact of digitalization on provision of financial and banking services, and proposes policy measures to address the risks stemming from digitalization.

    January 18, 2022 WebPage Regulatory News
    News

    EU Authorities Address COVID-19 Reporting, MCD, and PSD2 Issues

    The European Banking Authority (EBA) announced that the guidelines on the reporting and disclosure of exposures subject to measures COVID-relief measures shall continue to apply until further notice.

    January 17, 2022 WebPage Regulatory News
    News

    FI Publishes Multiple Regulatory and Reporting Updates

    The Swedish Financial Supervisory Authority (FI) announced that the capital adequacy reporting as at December 31, 2021 must be done by February 11, 2022.

    January 17, 2022 WebPage Regulatory News
    News

    BSP Tackles Aspects of Lending and Islamic, Open & Sustainable Finance

    The Central Bank of the Philippines (BSP) issued communications covering developments related to online lending platforms, open finance framework and roadmap, and on the expected regulations in the area sustainable finance.

    January 16, 2022 WebPage Regulatory News
    News

    US Agencies Issue Regulatory Updates, FDIC Launches Tech Sprint

    The Board of Governors of the Federal Reserve System (FED) published the final rule that amends Regulation I to reduce the quarterly reporting burden for member banks by automating the application process for adjusting their subscriptions to the Federal Reserve Bank capital stock, except in the context of mergers.

    January 13, 2022 WebPage Regulatory News
    News

    EBA Issues Guide on Bank Resolvability, Consults on Transferability

    The European Banking Authority (EBA) published its assessment of risks through the quarterly Risk Dashboard and the results of the Autumn edition of the Risk Assessment Questionnaire (RAQ).

    January 13, 2022 WebPage Regulatory News
    News

    MFSA Publishes CRD5 Updates and Supervisory Priorities for 2022

    The Malta Financial Services Authority (MFSA) updated the guidelines on supervisory reporting requirements under the reporting framework 3.0.

    January 13, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 7875