In an exchange of letters between the Japanese FSA and the European Commission there is now some greater clarity about the future direction of OTC derivatives market.
Nishimura & Asahi
Associate Members
The Securities Inspection Policy and the Program for 2013
In April, the Securities and Exchange Surveillance Commission (SESC) released its inspection policy guidelines for 2013-14. The guidelines give an overview of the regulator’s overall approach and policy to inspections and highlights priorities for the forthcoming year.
Guidelines:
http://www.fsa.go.jp/sesc/english/news/others/20130416.pdf
BoJ New Policy Direction
On the 4th April the BoJ outlined said they have set a price stability target of 2% to be achieved within about two years and this will be achieved through quantitative and qualitative monetary easing measures. The BoJ will double over the next two years the monetary base and the amounts outstanding of Japanese government bonds (JGBs) as well as exchange-traded funds (EFTs) and they will also more than double the average remaining maturity of JGB purchases.
Foreign Banks in Japan Survey 2012
KPMG has released its annual survey of the published financial statements of foreign banks in Japan.
The condensed financial statements are prepared and published in accordance with the requirements of the Banking Law of Japan, and all financial information is extracted principally from publicly available information, with the exception of certain information voluntarily provided by the bank survey participants.
The survey is part of a comprehensive series of publications issued globally by KPMG’s Financial Services practices.
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KPMG Japan
Associate Members
Wells Fargo
Financial Groups
Goldman Sachs Japan Co., Ltd.
Financial Groups
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