Resources

GFMA, IIF, ISDA, JFMC and TCH respond to the Basel Consultation on Leverage Ratio

London – 7 July 2016: The Global Financial Markets Association (GFMA), the Institute of International Finance (IIF), the International Swaps and Derivatives Association (ISDA), the Japan Financial Markets Council (JFMC) and The Clearing House (TCH), yesterday responded to the Basel Committee's (BCBS) consultation on Revisions to the Basel III leverage ratio framework (Proposed Framework).

The full response is available here: http://gfma.org/correspondence/item.aspx?id=825

2013 IBA Japan Annual General Meeting, Address by FSA Commissioner & Reception

IBA Japan held its 29th Annual General Meeting on November 27th at the Okura Hotel in Tokyo, followed by a reception with over 200 guests. The main speaker was the Commissioner of the Financial Services Agency, Mr. Ryutaro Hatanaka, who discussed the effect of Abenomics on Japanese markets, the role of the financial sector in ending deflation, and future regulatory challenges.

Organisational and regulatory reforms at the FSA: an overview by FSA Vice Commissioner Kiyotaka Sasaki

Earlier this year, IBA Japan was pleased to welcome the Vice Commissioner for Policy Coordination and Acting Director of the Financial Research Centre at the FSA, Mr Kiyotaka Sasaki.

In his presentation Mr. Sasaki highlighted his intention to communicate what are the ongoing reforms at FSA; what the priorities will be for 2017-2018; and share what the implications of these will be with members' businesss and their interactions with the FSA going forwards.

Key issues discussed during the presentation included:

JFMC and GFMA send letter to IOSCO Cross-Border Task Force

Given the global nature of today’s markets, cross-border regulatory developments need to be conducted in a coordinated and efficient manner.  Well regulated and stable finanical markets will play an important role in economic and business recovery.  But there have been a number of recent examples of extraterritorial regulation from one country having a detrimental impact on this efficiency.

IBA Japan Statement on restrictions on the re-entry into Japan of non-Japanese nationals during the COVID-19 Pandemic

The International Bankers Association of Japan (IBAJ) represents 53 major non-Japanese global banking groups operating in Japan. We work closely with the Japanese financial authorities such as the Ministry of Finance, the Bank of Japan, and the Financial Services Agency. We also collaborate with the self-regulatory organizations including the Japan Securities Dealers Association and the Tokyo Stock Exchange in addition to other trade organizations such as the Japanese Bankers Association. IBAJ was founded over 35 years ago.

IBA Japan welcomes the draft of Japan’s new Corporate Governance Code

The International Bankers Association of Japan (IBA Japan) welcomes the draft of Japan’s Corporate Governance Code (‘Code’), which sets out guiding principles for Japanese corporate issuers. The Code, together with the recently adopted Stewardship Code, provides a framework which should provide both the domestic and international investment community with important information and evidence of corporate behaviours that will help them in their investment decision making.

Full document attached.

A government appointed panel sets out Japan’s progress in developing its financial and capital markets

The goal of the Panel is to vitalise the Japanese economy, promote business and develop the Tokyo market into a leading international financial centre by 2020.  A wide range of measures have been made including regulatory and structural changes to help support this aim and the report also highlights some further issues which need to be tackled.

http://www.fsa.go.jp/en/refer/councils/vitalizing/20150721/01.pdf    

Letter to IOSCO and BCBS setting out how current margin settlement requirements will negatively disadvantage Japan and Asian markets because of time zone differences

The Japan Financial Markets Council (JFMC) and the International Swaps and Derivatives Association (ISDA) sent a letter to IOSCO and BCBS pointing out how the current margin settlement requirements for uncleared swaps will disadvantage Japan and Asian markets because they are in a different time zone. The T+1 requirement will place an additional burden on market participants in the Asia-Pacific region including their access to types of collateral which may result in higher overall funding costs.