Japan ruling party committee to propose streamlining FSA, BOJ bank inspections

21-Oct-2020 Intellasia | Reuters | 6:02 AM Print This Post

A Japanese ruling party committee will submit a proposal to the government calling on the Financial Services Agency and the Bank of Japan to streamline their bank inspections to minimise overlaps, two ruling party lawmakers said on Tuesday.

The FSA conducts inspections on financial institutions as the country’s banking regulator. The BOJ separately conducts its own examinations as a lender of last resort, drawing complaints from some financial institutions of overlaps between the two.

A panel from the Liberal Democratic Party plans to propose as early as next week that the two institutions create a committee to address such complaints, and share more information with each other, the lawmakers told Reuters.

https://www.reuters.com/article/uk-japan-economy-fsa-boj/japan-ruling-party-committee-to-propose-streamlining-fsa-boj-bank-inspections-idUKKBN2750X3

 

Category: Japan

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