Financial Services Agency, Japan (JFSA, 金融庁)

The FSA published "FSA Analytical Notes (2024.7) vol.2." It presents an analysis on market impact of High Frequency Trading. Congratulations to Macro-financial Stability and Data Strategy Office of the FSA for its great work. An English version is also under preparation and will be announced again at a later date. (Note) “FSA Analytical Notes” series summarize major data analyses conducted by the FSA as part of its efforts to enhance data utilization.   データ活用の高度化に向けた取組の一環として金融庁が実施した主なデータ分析をまとめた「FSA Analytical Notes（2024.7）vol.2）」を公表しました。 https://lnkd.in/gnzZfBrY   本レポートは、高粒度データを用いて行った「高速取引行為が市場流動性や市場変動の大きさに与える影響に関する分析」を紹介しています。 本分析は、2023年12月の株価指数先物取引の注文明細データを用いて高速取引行為（HFT）の影響を分析したものであり、①HFTが市場に一定の流動性を供給し、②取引戦略の違いにもよるが、全体として市場変動を抑制する、可能性があることが示唆されました。 英語版も作成中ですので、公表次第、再度アナウンスします。

The FSA published "FSA Analytical Notes (2024.7)", which summarizes major data analyses conducted by the FSA as part of its efforts to enhance data utilization. It presents three analyses on: 1) regional banks’ loans on real estate sector, 2) inter-firm transaction networks, and 3) bankruptcy due to staffing shortage. Congratulations to Macro-financial Stability and Data Strategy Office of the FSA for its great work. An English version is also under preparation and will be announced again at a later date. データ活用の高度化に向けた取組の一環として金融庁が実施した主なデータ分析をまとめた「FSA Analytical Notes（2024.7））」を公表しました。 https://lnkd.in/gnzZfBrY 本レポートは、高粒度データを用いて行った「地方銀行における不動産業向け貸出及びその債務者区分の動向に関する分析」、「企業間取引ネットワーク分析」及び「労働状況の変化を踏まえた人材不足倒産に関する分析」の３つの分析を紹介しています。 １点目は、貸出先地域別等の多面的な切り口による実態把握や、機械学習等を活用した貸出先企業の財務指標や不動産市況と債務者区分の関係性についての分析を行ったものです。 ２点目は、金融庁における金融機関間・企業間ネットワーク構造の可視化に係る取組を紹介すると共に、企業間取引ネットワークにおける企業破綻時の影響の波及度を測るうえで重要な企業を特定する指標について考察したものです。 ３点目は、人材不足を要因として倒産した企業の財務面の特徴の把握を試み、人件費負担や業務効率化等の面で、その他の企業とは異なる特徴があることが明らかにしたものです。 英語版も作成中ですので、公表次第、再度アナウンスします。

The Financial Services Agency (FSA) and the Bank of Japan (BOJ) have been taking initiatives toward data integration with a view to further enhancing their monitoring capabilities and reducing the burden on financial institutions. In fiscal 2023, the FSA and the BOJ considered practical operations and started to collect granular data in a phased manner to establish a novel framework for data collection and management (common data platform). We have published a summary of the progress and next steps as follows: ▼For more details, please visit the webpage below: https://lnkd.in/giHrdsq9 Thanks to all who have contributed to the progress, in particular, Macro-financial Stability and Data Strategy Office of the FSA and the relevant team of Financial System and Bank Examination Department of the BOJ. 金融庁と日本銀行は、より質の高いモニタリングの実施と金融機関の負担軽減を図る観点から、データの一元化に向けた取組みを進めており、令和5年度には、新しいデータ収集・管理の枠組み（共同データプラットフォーム）の構築に向け、実務的な検討を行うとともに、高粒度データの収集を段階的に開始しました。今般、これまでの進捗と今後の進め方をまとめましたので公表します。 ▼詳細はこちらをご覧ください。 https://lnkd.in/gmZXXsKR

During the meeting of the IFRS Foundation Monitoring Board in Singapore on June 5-6th, the Monitoring Board discussed the activities of the Trustees of the IFRS Foundation, including their oversight responsibilities in respect of the International Accounting Standards Board (IASB) and the International Sustainability Standards Board (ISSB). The meeting was joined by the members of the Trustees of the IFRS Foundation under the leadership of Erkki Liikanen, Chair of the Trustees, as well as Andreas Barckow, Chair of the IASB, and Emmanuel Faber, Chair of the ISSB. Takashi Nagaoka, Chairman of the IFRS Monitoring Board and Deputy Commissioner for International Affairs of Japan Financial Services Agency said: “I am pleased to co-host a discussion between the IFRS Foundation Trustees and the Monitoring Board members at an important juncture where the ISSB finalized its “Inaugural Jurisdictional Guide for the adoption or other use of ISSB Standards,” providing much-awaited support to jurisdictional approaches, and the IASB released two new accounting standards, IFRS 18 and 19, which is the first such output of new accounting standards in over six years. The IFRS Foundation Trustees and the Monitoring Board members are aligned in support of good governance of the Foundation to promote sustainability-related disclosures and continuing development of high-quality financial reporting standards to serve the capital markets globally.” For more information, please visit the website. https://lnkd.in/gNsTBR9K

The FSA published the English translation of "FSA Analytical Notes (2024.3)", which summarizes major data analyses conducted by the FSA as part of its efforts to enhance data utilization. Congratulations to Macro-financial Stability and Data Strategy Office of the FSA for its great work. https://lnkd.in/giTv8Kb3 This report compiles two analyses: “Analysis of Credit Guaranteed Borrowers amid the COVID-19 Pandemic” and “Quantitative Analysis of Consultation and Support Functions by Financial Institutions.” The former attempts to reveal the characteristics and trends of borrowing covered by the Credit Guarantee System amid the COVID-19 pandemic. The analysis suggests that prompt funding support using the Credit Guarantee System in times of emergency may have contributed to business continuation until corporate earnings were on a recovery track and to mitigating sharp deterioration of borrower classification. The latter attempts to conduct a quantitative analysis of business consultation and support functions provided by financial institutions to their client firms. The analysis suggests that there are certain correlations between the consultation and support functions provided by financial institutions and changes in firms' financial performance. 2024年３月に公表した「FSA Analytical Notes（2024.3）」の英訳版を公表しました。 https://lnkd.in/giTv8Kb3 本レポートは、高粒度データを用いて行った「新型コロナ拡大下における信用保証制度を用いた借入企業に関する分析」及び「金融機関による経営相談・支援機能の発揮状況に係る分析」の２つの分析を紹介しています。 前者の分析は、新型コロナ拡大下に信用保証借入を行った企業の業種・規模等の属性、借入時期の傾向、売上高の推移等を明らかにするとともに、債務者区分の推移について信用保証借入を行わなかった企業との比較を行ったものです。 後者の分析は、金融機関による経営相談や支援機能の発揮状況については、これまでナラティブベースの取組事例の蓄積が中心であったところ、計量経済学の手法を用いて定量的な効果検証を試みたものです。

At the Annual Meeting of the International Organization of Securities Commissions (IOSCO) held in Athens, Greece, from May 26 to 28, Mr. ARIIZUMI Shigeru, Vice Minister for International Affairs, Financial Services Agency, was re-appointed as Vice Chair of the IOSCO Board. Mr. ARIIZUMI has served as Vice Chair of the IOSCO Board since October 2022 and will continue to serve as this position from 2024 to 2026.

Japan Weeks 2024 official website is now available! Check out the link below for more details! https://lnkd.in/gvExtnks   If you are interested in organizing an event during the Japan Weeks, please feel free to contact us at japan_as_ifc@fsa.go.jp

The FSA and the BOJ published a report “Climate-Related Scenario Analysis - Next Step in the Banking Sector -”, which outlines the framework of the second climate-related scenario analysis exercise in Japan. https://lnkd.in/gcBiPcGJ In FY 2023, the FSA and the BOJ conducted a simplified analysis of market risks, that is, the impact of climate-related risks on banks' financial conditions from a decline in the market value of their securities holdings.   Currently, the FSA and the BOJ are preparing for the second exercise of scenario analysis to be conducted in FY 2024. One of the main elements of the second exercise is a short-term scenario analysis, which complements a long-term scenario analysis in the first exercise. The FSA and the BOJ also plans to consider, on a trial basis, using a scenario analysis framework to examine the impact of banks’ efforts to achieve the financed emissions reduction targets and their impact on banks’ loans and other portfolio management.   Thanks to all who have contributed to this release, in particular, Macro-financial Stability and Data Strategy Office of the FSA and the climate-related financial risk analysis team of Financial System and Bank Examination Department of the BOJ.   金融庁と日本銀行は、銀行セクターにおける気候関連シナリオ分析に取り組んでいます。今般、第１回目のエクササイズ以降のシナリオ分析に関連する取組と今後の取組（第２回エクササイズの実施の枠組）についてまとめ、公表しました。 https://lnkd.in/g7Ju4g-v 今年度の取組として、気候関連リスクが保有有価証券の時価下落を通じて銀行の財務に与える市場リスクの影響の簡易分析を実施しました。 また、現在、金融庁と日本銀行は３メガバンクと連携して、第２回エクササイズの2024年度の実施に向けて準備を進めています。その枠組みの１つは短期シナリオによる分析です。

From April 16 to 18, 2024, #JFSA /#CPAAOB hosted the 24th Plenary meeting of the International Forum of Independent Audit Regulators (IFIAR) in Osaka. Member regulators from 48 jurisdictions, in addition to the Global CEOs of major audit firms and other relevant stakeholders, joined the meeting. For more details, please refer to the press release by IFIAR. https://lnkd.in/gZ88ud6D

[Japan Weeks 2024🚀] The Government of Japan will hold a second round of Japan Weeks, “Japan Weeks 2024” in the fall of this year! Its core week is from September 30 to October 4. In order to promote Japan as a leading asset management and financial center of the world, a variety of events will be held including the weeks before and after that. Last year, 10,000+ investors and related parties from around the world participated. Your participation is more than welcome again this year!   During the core week, a launch event of the Asset Management Forum will be held on October 3, 2024. In addition to exchanging views on the "Policy Plan for Promoting Japan as a Leading Asset Management Center," the launch event is expected to discuss the promotion of emerging asset managers and sustainable finance🌿.   Detailed information will be soon available on the dedicated website. For collaboration inquiries regarding Japan Weeks 2024, please feel free to contact us: japan_as_ifc@fsa.go.jp   https://lnkd.in/gzrnBg_J