Featured Product

    SRB and JFSA to Cooperate on Resolution Planning for Banks

    October 14, 2019

    SRB and JFSA agreed to cooperate on resolution planning for banks, through an exchange of letters. The exchange of letters will provide a basis for effective cooperation for cross-border resolution planning and implementation. The letters were signed in the inaugural meeting of the Joint EU-Japan financial regulatory forum on October 11, 2019, in Tokyo. The authorities also issued a joint statement on the inaugural meeting of the Joint EU-Japan financial regulatory forum. The next forum meeting is foreseen to take place in Brussels in 2020.

    Through the agreement to cooperate on resolution planning for banks, JFSA and SRB confirmed their commitment to strengthen cross-border resolvability by enhancing communication and cooperation and to work together in planning and conducting orderly cross-border resolutions. The goal is to facilitate the resolution of banks in the respective jurisdictions while maintaining financial stability in Japan and EU. 

    The Joint EU-Japan financial regulatory forum was chaired by Mr. Ryozo Himino, Vice Minister for International Affairs of JFSA and by Mr. Olivier Guersent, Director-General at the EC's Directorate-General for Financial Stability, Financial Services and Capital Markets Union. Also joining the forum were the Bank of Japan, ECB, EBA, ESMA, and SRB. The Joint EU-Japan meeting provided an important opportunity for both sides to exchange views on the recent regulatory and supervisory developments in the financial sector at the international level and in their respective jurisdictions. The participants discussed the progress and way forward to strengthen their bilateral cooperation and the possibility of coordination in international fora such as the G20 and FSB. In addition, JFSA and EU participants discussed the EU equivalence and the Japanese deference frameworks, including possible enhancements in information exchange between both jurisdictions. They briefed each other on the recent developments in the financial sector in the EU and in Japan, mainly in the banking sector and capital markets. Discussions also involved: The participants also discussed the following: 

    • State of the implementation of Basel III reforms
    • Achievements of the outgoing EC in the area of financial services policy
    • Benefits and challenges represented by the development of fintech, including issues related to cyber-security and stablecoins
    • Respective initiatives in the field of sustainable finance, with EU and Japan re-iterating their commitment to strengthen cooperation, to share experiences, and to promote ways to support deployment of private capital toward sustainable investments globally


    Related Links

    Keywords: Europe, EU, Japan, Banking, Securities, Basel III, Fintech, Sustainable Finance, Cyber Risk, Resolution Planning, JFSA, SRB

    Featured Experts
    Related Articles

    BOE Sets Out Its Thinking on Regulatory Capital and Climate Risks

    The Bank of England (BOE) published a working paper that aims to understand the climate-related disclosures of UK financial institutions.

    March 13, 2023 WebPage Regulatory News

    OSFI Finalizes on Climate Risk Guideline, Issues Other Updates

    The Office of the Superintendent of Financial Institutions (OSFI) is seeking comments, until May 31, 2023, on the draft guideline on culture and behavior risk, with final guideline expected by the end of 2023.

    March 12, 2023 WebPage Regulatory News

    BIS Paper Examines Impact of Greenhouse Gas Emissions on Lending

    BIS issued a paper that investigates the effect of the greenhouse gas, or GHG, emissions of firms on bank loans using bank–firm matched data of Japanese listed firms from 2006 to 2018.

    March 03, 2023 WebPage Regulatory News

    HMT Mulls Alignment of Ring-Fencing and Resolution Regimes for Banks

    The HM Treasury (HMT) is seeking evidence, until May 07, 2023, on practicalities of aligning the ring-fencing and the banking resolution regimes for banks.

    March 02, 2023 WebPage Regulatory News

    BCBS Report Examines Impact of Basel III Framework for Banks

    The Basel Committee on Banking Supervision (BCBS) published results of the Basel III monitoring exercise based on the June 30, 2022 data.

    February 28, 2023 WebPage Regulatory News

    PRA Consults on Prudential Rules for "Simpler-Regime" Firms

    Among the recent regulatory updates from UK authorities, a key development is the first-phase consultation, from the Prudential Regulation Authority (PRA), on simplifications to the prudential framework that would apply to the simpler-regime firms.

    February 28, 2023 WebPage Regulatory News

    DNB Publishes Multiple Reporting Updates for Banks

    DNB, the central bank of Netherlands, updated the list of additional reporting requests and published additional data quality checks and XBRL-Formula linkbase documents for the first quarter of 2023.

    February 28, 2023 WebPage Regulatory News

    NBB Sets Out Climate Risk Expectations, Issues Reporting Updates

    The National Bank of Belgium (NBB) published a communication on climate-related and environmental risks, issued an update on XBRL reporting

    February 24, 2023 WebPage Regulatory News

    EBA Updates Address Securitization Standards and DGS Guidelines

    The European Banking Authority (EBA) published the final draft of the regulatory technical standards that set out conditions for assessment of homogeneity of the underlying exposures in simple, transparent, and standardized (STS) securitizations.

    February 21, 2023 WebPage Regulatory News

    FSB Publishes Letter to G20, Sets Out Work Priorities for 2023

    The Financial Stability Board (FSB) published a letter intended for the G20 Finance Ministers and Central Bank Governors, highlighting the work that FSB will take forward under the Indian G20 Presidency in 2023

    February 20, 2023 WebPage Regulatory News
    RESULTS 1 - 10 OF 8793