Japan

The strategy highlights efforts to enhance disclosures, develop green bond markets, and ensure FIs manage climate risk and support borrowers.

The new indices will enable investors to reallocate capital based on the climate credentials and carbon performance of the constituent companies in the index.

For internationally-active banks, the new leverage ratio requirements will commence from 31 March 2023 and for other banks one year later.

Tokyo has launched version 2.0 of its global financial city ambitions, with green financing and fintech becoming central pillars of its revised strategy.

Employees are said to have traded several stocks to support their prices to ensure the completion of block deals conducted after market hours.

Banks will be able to ask companies to submit information about their major shareholders when opening accounts or making loans.

The change will allow agents of financial service firms to sell financial products such as loans, investments and insurance under a single license.

More than 85% of loans and over 99% of derivatives that reference JPY LIBOR and mature after 2021 already incorporate fallback provisions.

Under the guidelines, social bond issuers have to make annual disclosures on the use of the proceeds and the social benefits they yield.

The TSE will extend its trading day by 30 minutes alongside a major trading system upgrade in 2024. A five-minute closing auction session may also be introduced.