Financial Services Agency

Supervision & Enforcement

US SEC Opens Preliminary Investigation into Archegos Collapse

By Manesh Samtani | 06/04/2021

Credit Suisse expects a $4.7bn loss from the collapse of Archegos. The bank has suspended share buybacks, cut its dividend, and announced the departure of seven key executives.

CBDCs

BOJ Forms Committee to Lead CBDC Testing in April

By Sanday Chongo Kabange | 01/04/2021

The BOJ Liaison and Coordination Committee will share details and provide updates on the PoC with the private sector and the government.

Climate Risk

BOJ, FSA Highlight Ongoing Initiatives to Address Climate Risk

By Manesh Samtani | 31/03/2021

Bank examinations will include assessments of efforts to address climate-related risks, and work is underway to identify possible approaches to climate-related scenario analysis.

Credit Risk

Hedge Fund Collapse Sparks Billions in Losses for Banks

By Manesh Samtani | 30/03/2021

The SEC, FSA, and FINMA are monitoring the situation, after the collapse of Archegos Capital Management left Nomura and Credit Suisse with billions in losses.

Data Privacy

Line Pay to Bring Data Stored Overseas Back to Japan

By Sanday Chongo Kabange | 25/03/2021

Line must submit detailed reports to Japanese authorities explaining how it protects personal data, after employees at a China affiliate were found to have access to user information.

Operational Risk

Japan FSA to Inspect Mizuho Over System Failures

By Ranamita Chakraborty | 24/03/2021

The FSA will consider whether to take disciplinary action such as issuing a business improvement order against the bank.

Structural Regulation

BOJ, FSA Urge FIs to Push Forward LIBOR Transition

By Manesh Samtani | 09/03/2021

The regulators say the transition must continue without reliance on a potential synthetic JPY LIBOR, which would be restricted to tough legacy contracts even if published.

Trading & Investment

OSE, TOCOM Propose Revised Contingency Plans for Derivatives

By Sanday Chongo Kabange | 09/03/2021

The OSE and TOCOM have proposed revisions clarifying the standards by which they will halt and resume trading in the event of a disruption in the derivatives market.

Emerging Prudential Risks

Japan, EU Boost Cooperation on Insurance Supervision

By Ranamita Chakraborty | 06/03/2021

EIOPA will provide the FSA advice on an equivalence decision under the EU’s Solvency II framework and, later, the monitoring of this decision.