From the Governor

Message from the New DICJ Governor

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MITSUI Hidenori
Governor

I am honored to have been appointed as the Governor of the Deposit Insurance Corporation of Japan (DICJ). I am committing myself to making every effort to ensure stability of the deposit insurance system and the financial systems.

The deposit insurance system in Japan, which was established in 1971, marks the 50th anniversary this year. During this period, Japan's financial economy experienced crises triggered by the collapse of the bubble economy. To respond to the crises, a series of frameworks to deal with the contingencies such as the special public management and the capital injection with public funds was introduced and put into practice. Since then, the frameworks and practices for ensuring stability of financial systems have been enhanced through various new measures such as the orderly resolution of a financial institution introduced in the wake of the global financial crisis.

In recent years, financial systems have undergone dramatic transformations in response to rapid changes in social and economic structures surrounding financial environment, such as progress in digital transformation and the situation facing regional finance. Japan's financial systems are generally stable at present, but we would need to make enough preparation in normal times so as to be able to take timely and precise actions in the case of crisis. I think it is essential to constantly review the current way of operating the frameworks, flexibly revise the way of managing the frameworks in a forward-looking manner, and carry out various simulations and training, in close cooperation with the parties concerned.

The DICJ, as a public institution, is given much wider role than what can be imagined from the term "deposit insurance" in its name. Its mandates include the execution of the above schemes for ensuring stability in financial systems, the provision of relief and support for victims of bank transfer fraud and other criminal acts, the management of dormant deposits, and the response to inquiries on information about antisocial forces. Reliable execution of these mandates is extremely important for households and corporate entities to make deposits or conduct settlement transactions with a sense of security.

I am determined to make every effort to ensure that the DICJ fully demonstrates its extensive range of given functions, and hereby ask for your guidance and support.

March 2021

MITSUI Hidenori

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