Japan Financial Services Agency publishes implementation status reports on Management Enhancement Plans for the fiscal year ending September 7

Japan Financial Services Agency published implementation status reports on Management Enhancement Plans and related items for the fiscal year ending September 7, based on submissions from financial institutions under the Act on Special Measures to Strengthen Financial Functions. The disclosures cover institutions reporting under special-case frameworks, including COVID-19 special cases (Jimoto Holdings Co., Ltd., Kirayaka Bank Co., Ltd. and the National Federation of Credit Cooperatives), earthquake-disaster special cases (Jimoto Holdings, Kirayaka Bank, Sendai Bank Co., Ltd., Bank of Tsukuba Co., Ltd., Tohoku Bank Co., Ltd., Miyako Shinkin Bank, Kesennuma Shinkin Bank, Ishinomaki Shinkin Bank, Abukuma Shinkin Bank, Soso Gojo Credit Union, Iwaki Credit Union and Nasu Credit Union, with Shinkin Central Bank and the National Federation of Credit Cooperatives referenced for several cooperative institutions), and a revised-law framework enforced in December 20 (Toyowa Bank Co., Ltd., Yamanashi Prefectural Credit Union, Gunma Mirai Credit Union, Tokyo Welfare Credit Union, Yokohama Kogin Credit Union, Kushiro Credit Union, Shiga Prefecture Credit Union and the National Federation of Credit Cooperatives). The agency will continue monitoring whether management strategies and legally based plans are embedded in sales offices, whether specific initiatives are appropriately evaluated and implemented, and whether repayment resources for public funds are accumulated and monetized in a way that ensures the possibility of repayment.