JAPAN

Market Infrastructure

BOJ Pledges More Flexibile Yield Curve Control Policy

By Editors | 01/11/2023

The BOJ said its strict cap on long-term interest rates would in principle have “strong positive effects”, but that it could also entail “large side effects”.

AML / KYC

Japan Joins US in Sanctioning Hamas Fundraisers

By Editors | 31/10/2023

Japan announces sanctions on nine individuals and one company following US Treasury action earlier this month.

Crypto / Digital Assets

MAS Establishes Project Guardian Policymaker Group

By Editors | 30/10/2023

MAS will work with Japan’s FSA, the UK’s FCA and Switzerland’s FINMA to advance the development of tokenised digital assets.

Japan FSA Directs Banks to Further Improve Internal Audit Function

By Editors | 29/10/2023

The sophistication of internal audits differs across banks, largely due to the degree of involvement by management, the FSA says.

AML / KYC

FATF Upgrades Japan Ratings on Five Recommendations

By Manesh Samtani | 24/10/2023

Japan was re-rated from partially compliant to largely compliant on four recommendations and from non compliant to partially compliant on one recommendation.

Enforcement

Japan FSA Orders Report Explaining Zengin-Net Outage

By Sanday Chongo Kabange | 18/10/2023

Zengin-Net has to produce a report explaining last week’s outage and measures taken to prevent a recurrence.

Securities / Derivatives

DSB Launches UPI Service, a Milestone for Derivatives Markets

By Manesh Samtani | 18/10/2023

The US, EU, UK, Australia and Singapore will all start requiring UPI reporting for OTC derivatives transactions in 2024.

Japan Considers New Law to Ease Loan Access for Small Businesses

By Sanday Chongo Kabange | 17/10/2023

The proposed law would allow startups and other SMEs to obtain loans based on intangible assets such as their technological capabilities or customer base.

Crypto / Digital Assets

Japan Consortium to Launch Digital Currency in July 2024

By Editors | 13/10/2023

A consortium of Japanese firms plans to launch the DCJPY, a digital currency backed by JPY bank deposits, by July 2024.