Japan: Financial Sector Assessment Program-Technical Note on Banking Supervision and Regulation Selected Issues

Author: International Monetary Fund. Monetary and Capital Markets Department

Volume/Issue: Volume 2024 Issue 112

Publication date: May 2024

ISBN: 9798400275722

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Money and Monetary Policy , International - Economics ,

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Summary

The Financial Sector Assessment Program (FSAP) carried out a targeted evaluation of issues relating to the effectiveness of banking supervision and regulation in Japan. The scope of the work focused on the key findings from the 2017 Basel Core Principles (BCP) Detailed Assessment Report (DAR) and the transformation of the supervisory approach by the Financial Services Agency (FSA) undertaken since the last FSAP. The overall conclusion of the 2017 DAR was that the supervisory framework was generally sound, but some key priority areas were identified as needing to be addressed. This note reviews progress made in these areas as well as examining the fundamental shift to a more risk-focused, principles-based supervisory approach than before.