P5 News  

Shonan Tax Office No. 154
July 2002
Inspection Manual

  Financial Service Agency Japan publishes financial inspection manual for monetary facilities According to Financial Service Agency, Japan cannot make progress in carving out a future for its national economy in the century without striving to stabilize and revitalize the financial system and to restore confidence in its financial institutions both in Japan and abroad.     

  To achieve that end, financial institutions must actively come to grip with quickly writing off bad loans, with rebuilding and restructuring strategic operations, and with disclosing management information.

  Supervisory authorities must also enhance its inspection and supervision regime and must establish a financial regulatory regime and financial institution management that gives consideration to the international viewpoint and that is also acceptable to depositors and taxpayers etc.

  Organizing and publishing manuals for financial inspections contributes not only to improving the inspection supervisory functions of the supervisory authorities and to the establishment of a transparent administration, but also stimulates the development of management based on self responsibility in financial institutions and thereby leads to the development of confidence in financial administration as a whole.

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